Economic news was unsettling to the markets and both the US and global markets were down today. In spite of the news, RSI found some candidates across the spectrum of ETFs, CEFs, Stocks and Mutual Funds…reminiscent of the old saw “it is a market of stocks not a stock market.” Thus some securities are attractive when the market looks ugly. So here are the four groups:
ETF/CEF:
- IEZ – iShares Dow Jones U.S. Oil Equipment & Services
- ITA – iShares Dow Jones U.S. Aerospace & Defense
These are two speciality industries and both are doing quite well in the midst of this current correction. I like them both, but they do expose the investor to specific industry risk. ITA also trades under 100k shares per day, so use care.
Stocks:
- CAM – Cameron International Corp.
- FDG – Fording Inc.
- FSTR – L.B. Foster Co.
- GME – Gamestop Corp.
- JEC – Jacobs Engineering Group Inc.
- NOV – National Oilwell Varco, Inc.
Aside from Gamestop Corp. all these stocks have major business in the energy/oil & gas industry. This theme reinforces the ETF pick of IEZ. Don’t you just love this??
CFK:
- PTY – Pimco Corporate Opportunity
- VVR – Van Kampen Senior Income
The two falling knife candidates are both CEFs. PTY has made a double bottom and may be poised for a takeoff. VVR looks promising too, but I still hate its huge expense ratio of 4.3$%!!!
Mutual Funds:
BJMIX Brazos/JMIC Micro Cap Growth Portfolio
BMIAX Brazos Micro Cap EVUYX Evergreen Utility & Telecommunications
FANAX Fidelity Advisor Natural Resources
FANIX Fidelity Advisor Natural Resources Institutional
FSESX Fidelity Select Energy Services
ICENX ICON Funds – ICON Energy Fund
MPFAX Munder Power A
MPFBX Munder Power Plus
NFMAX Navellier Fundamental Fund
OEPIX ProFunds Oil Equipment, Services & Distribution UltraSector
RYESX RYDEX SERIES FDS ENERGY SERVIC
RYVAX Rydex Series Trust Energy Services Fund Advisor
RYVCX Rydex Series Trust Energy Services Fund
RYVIX Rydex Energy Services
TIIEX TIAA-CREF INSTL International Equity Fund
TRERX TIAA CREF International Equity
As you can see this is heavy with energy related funds. Certainly the theme for today and another vote for energy. Therefore I’m adding IEZ to the Way Ahead portfolio. See you tomorrow.
