Once in a while you come across an article that not only provides good ideas for long positions [healthier, above their 50d] but also for short ideas should and I say should the market turn on us. Not advise to long or short, but good, solid, basic research for investors [imho].This from BespokeInvestments:
Below we highlight the key ETFs that we follow that are currently trading the farthest above their 50-day moving averages. As shown, the Internet stock ETF (HHH) is currently on top of the list at 10.31% above its 50-day. Malaysia (EWM) ranks second at 9.29%, followed by Base Metals (DBB), Australia (EWA), and then REITs (IYR). A lot of times we'll see ETFs from one asset class clustered at the top of the most overbought list, but it is currently pretty diverse.
Below is a chart of the Internet ETF (HHH) that is currently trading 10% above its 50-day. As shown, the ETF has made a huge move over the last four days. We also provide a table of the stocks that make up HHH. As shown, Amazon.com (AMZN) and eBay (EBAY) collectively make up about 60% of the ETF. Both have been soaring lately and are now trading more than two standard deviations above their 50-days. They're the reason HHH has done what it has done this week.
Reprinted from http://www.bespokeinvest.com/thinkbig/2010/9/3/key-etfs-farthest-above-50-day-moving-averages.html
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