Today in the market, Wednesday March 26, 2008: Concerns from the financial sector weighed heavily on the market. All the major averages were down with the S&P 500 off -0.88%.
RSI’s Themes: Finally RSI has some ETF/CEF picks. Two oil & gas production, one in steel and one in Asia. The stock picks favor steel and gold mining.
ETF/CEF Medium Volatility:
- EWM – Malaysia iShares
- IEO – iShares Dow Jones U.S. Oil & Gas Exploration & Production
- SLX – Market Vectors Steel
- XOP – SPDR S&P Oil & Gas Exploration & Production Index
Stocks Medium Volatility:
- CREE – Cree, Inc.
- FST – Forest Oil Corp.
- GBN – Great Basin Gold Ltd.
- HOS – Hornbeck Offshore Services Inc.
Stocks High Volatility:
- CLF – Cleveland Cliffs, Inc.
- ICLR – ICON PLC
There are two new stock names on this list:
Cleveland-Cliffs, Inc., a mining company, produces iron ore pellets and supplies metallurgical coal to the steelmaking industry primarily in North America.
ICON public limited company, a contract research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries worldwide.
Catch a Falling Knife:
- EVV – Eaton Vance Limited Duration Income Fund
- IDU – Utilities iShares
- PFN – Pimco Floating Rate Strategic Fund
It is interesting that two of the CFK picks are income funds. I’m adding these three to the long list of CFK candidates.
