Today in the market, Monday February 25, 2008: As I said, A Grand Day. Most of the major averages were at least 1% higher than Friday’s close…the Russell 2000 small cap index was up over 2%. This move appears to be a continuation of the last minute recovery on Friday. The cause for the market pushing higher is attributed to good news for the troubled financial sector. Whatever it was it looks good to me.
RSI’s Themes: In the ETF/CEF arena the theme was definitely consumer staples (a very defensive move), European, clean energy and utilities (again). The stock selections favor foreign, telecom and energy.
ETF/CEF Low Volatility:
- KXI – iShares S&P Global Consumer Staples Sector Index Fund
- XLP – Consumer Staples Select Sector SPDR
ETF/CEF Low Volatility:
- CEE – Central European Eqty Fund
- PBW – Powershares Wilderhill Clean Energy Portfolio
- UTF – Cohen & Steers Select Utility Fund Inc.
CEE and UTF are both Closed End Funds (CEF). The utility fund pays a whopping 9% yield! And it has good potential for appreciation back to the $28 level. Take a look at this one.
Stocks Low Volatility:
- ACL – Alcon Inc.
Stocks Medium Volatility:
- BKC – Burger King Holdings Inc.
- BTM -Brasil Telecom SA
- CVD – Covance, Inc.
- GBL – Gamco Investors Inc.
- KPN – Royal Ptt Nederland NV
Stocks High Volatility:
- MBT – Mobil Telesystems
- RBN – Robbins & Myers, Inc.
- VIVO – Meridian Bioscience Inc.
Today we have five new stocks as follows:
Burger King Holdings, Inc., through its subsidiaries, owns and franchises fast food hamburger restaurants.
Covance, Inc., a drug development services company, provides early-stage and late-stage product development services to the pharmaceutical, biotechnology, and medical device industries worldwide.
GAMCO Investors, Inc. together with its subsidiaries, provides investment advisory services primarily in the United States
Mobile TeleSystems OJSC, together with its subsidiaries, provides mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan, and Turkmenistan.
Robbins & Myers, Inc. and its subsidiaries supply engineered equipment and systems for various applications in energy, industrial, chemical, and pharmaceutical markets worldwide.
Catch a Falling Knife:
BGT – Blackrock Global Floating Rate Income Trust
DIM – Wisdom Tree Intl Mid Cap Dividend Fund
DLS – Wisdom Tree International Small Cap Dividend Fund
EFA – EAFE Index iShares
ETG – Eaton Vance Tax-Advantaged Global Dividend Income Fund
EWJ – Japan iShares
EWQ – France iShares
EWU – United Kingdom iShares
FCT – First Trust/Four Corners Senior Floating Rate Income Fund II
FEU – streetTRACKS Dow Jones STOXX 50 Fund
IBB – Biotech iShares
IEV – Europe 350 iShares
IJH – MidCap 400 iShares
ITF – TOPIX 150 Index iShares
IVW – S&P 500 Growth iShares
IWP – Russell Mid-Cap Growth iShares
IWR – Russell Mid-Cap iShares
IYZ – Telecom iShares
JKG – iShares Morningstar Mid Core Index Fund
MDY – S&P Midcap SPDRs
PWB – Powershares Dynamic Large Cap
PWC – PowerShares Dynamic Market Portfolio
SWH – Software Holders
TTH – Telecom Holders
VGK – Vanguard European VIPERs
VO – Vanguard Mid Cap VIPERs
VOX – Vanguard Telecommunication Services VIPERs
VVR – Van Kampen Senior Income
Some interesting stuff here, I found some funds of interest. I’ll be tracking them to see if there are some recoveries in the offing. Remember the old adage, buy low and sell high? Well here are some funds making new lows and maybe sometime in the future they will be higher….no guarantees.
