PROFIT-TAKING, BANK CAUTION HALT MARKET RUN-UP – SLIM PICKINGS FOR RSI March 27, 2009
Posted by Marlowe Cassetti in GBF, VKQ.trackback
Today in the market, Friday, March 27, 2009: Wall Street capped a strong week on a down note on Friday as investors booked profits in the wake of the recent upward surge and bank shares dropped after bank executives indicated March had been a tougher month for the industry than the previous two.
Trading volume was moderate on the New York Stock Exchange, with about 1.44 billion shares changing hands, below last year’s estimated daily average of 1.49 billion. On Nasdaq, about 2.09 billion shares traded, below last year’s daily average of 2.28 billion.
Declining stocks outnumbered advancing ones on the NYSE by 2,324 to 720 while decliners beat advancers on the Nasdaq by about 2,055 to 658.
(headline & commentary courtesy of Yahoo Finance)
ETF/CEF Low Volatility:
- GBF – iShares Lehman Government/Credit Bond Fund
ETF/CEF High Volatility:
- VKQ – Van Kampen Municipal Trust
ETF/CEF Discussion: Despite the good week the profit takers slowed the recent advance. RSI didn’t think much about today’s market action and came up with two bond funds. Although slim pickings, these are two good choices, so give them a look as potential candidates for your consideration. A word of caution, GBF trades on very low volume (less than 4,000 shares today), so be careful. VKQ pays a nice yield of 7.8%, but its expense ratio is a pricey 2%. So be forewarned. Catch you Monday and have a good weekend.
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