STOCKS END DOWN AS WEEK’S BACK-AND-FORTH CONTINUES – RSI PICKS NETWORK & TELECOM, SEMIS, AND INCOME FUNDS February 25, 2009
Posted by Marlowe Cassetti in IGN, IGW, JHP, JTP, SMH, VOX, XSD.trackback
Today in the market, Wednesday, February 25, 2009: Wall Street showed a little resilience as investors got answers to some of their questions about banks.
The major indexes closed down about 1 percent Wednesday but recovered from much steeper losses early in the day, continuing the volatile trading that has buffeted the market this week.
Stocks initially fell on growing pessimism about the banking industry and a home sales report that came in weaker than the market expected. But as the day wore on, some of the uncertainty about the troubled banking system lifted when the Treasury Department said it’s beginning to “stress test” the banks. The test will use two economic scenarios to measure banks’ health, and the process is expected to be done by the end of April. (headline & commentary courtesy of Yahoo Finance)
ETF/CEF High Volatility:
- IGN – Network iShares S&P/GSTI Index Fund
- IGW – Semiconductor iShares S&P/GSTI Index Fund
- JHP – Nuveen Quality Preferred Income Fund 3
- JTP – Nuveen Quality Preferred Income Fund
- SMH – Semiconductor Holders
- VOX – Vanguard Telecommunication Services VIPERs
- XSD – SPDR S&P Semiconductor Index
ETF/CEF Discussion: Well I would say that volatility rules. The only funds RSI picked are of the high volatility variety. These are an interesting mix that is showing some of the market leaders such as the semiconductor funds. Use care with these since most are falling knives. Also the two Nuveen funds sport huge yields so treat them as suspect.
Catch you tomorrow.
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