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Tuesday, January 8, 2013
Daily ETF Roundup: Jobs Report Boosts Markets
The first three trading days of 2013 are officially in the books, and markets have gotten off to quite the start. Though many had been fretting the fiscal cliff situation, Congress managed to come up with a last-minute deal that saved stocks from what would have likely been a harsh sell-off. Though yesterday saw major benchmarks slide sideways, encouraging hiring and jobs data lifted markets for today’s week-ending session [see also 101 ETF Lessons Every Financial Advisor Should Learn].
Today marked an impressive moment for the SPDR S&P 500 ETF (SPY, A) as it was able to gain 0.4% as the S&P had its highest closing point since December of 2007. The Dow Jones ETF (DIA, B) followed close behind with gains of 0.3% while the tech-heavy QQQ Fund (QQQ, A-) with losses of 0.3%. QQQ took cues from Apple (AAPL) which suffered a loss of nearly 2.8% for the day; AAPL accounts for more than 18.7% of QQQ.
Bond ETF Roundup
The fixed income space was relatively quiet in comparison to equity markets for Friday’s trading day. The biggest gainer came from long-term Treasuries as (TLT, A-) chalked up gains of nearly 0.4%. Investment grade debts were the worst performer of the major categories as (LQD, A+) slipped a meager 0.05%.
Commodity Roundup
Natural gas has been all over the board in 2013 as it seems that this commodity has been the subject of much speculation. The United States Natural Gas Fund (UNG, B+) was able to come away with a strong day as it jumped more than 2.6%. Gold was among the worst hard asset performers as the precious metal is still reeling from the possibility of the Fed ending their QE programs that have made the metal so popular in the first place.
In light of natural gas’ strong performance today, it should be no surprise to see UGAZ soar. This 3X leveraged product jumped more than 7.8% as momentum was finally restored to the key fossil fuel. Note that the fund traded over 764,000 shares today; its average daily volume falls around 482,000 [see Energy Bull ETFdb Portfolio].
Commodities were among the biggest movers on the day, as the DB Base Metals Fund was one of the worst performers. The fund surrendered more than 1% and traded a full 100,000 shares above its daily average. DBB gapped slightly lower upon opening and continued to lose momentum from there [see Commodity Guru ETFdb Portfolio].
Since inception, the SPDR Gold Trust (GLD) has never had a negative performance in a calendar year.
[For more ETF analysis, make sure to sign up for our free ETF newsletter or try a free seven day trial to ETFdb Pro]
Disclosure: No positions at time of writing.
-- ETF Insider: Bulls Break Down The Gates at ETF Database (January 5, 2013) -- Gold Slowly Losing Steam: GLD Technical Take at CommodityHQ.com (January 5, 2013) -- Dividend Highlights/Lowlights for Jan. 4 at (January 4, 2013) -- Market Wrap-Up for Jan.4 (C, HRL, MSFT, ABT, GLD, more) at (January 4, 2013) -- Daily ETF Roundup: Fed Minutes Spook Stocks at ETF Database (January 3, 2013) -- Battle Metals vs. Miners: Gold Edition 2012 at CommodityHQ.com (January 3, 2013) ETF Database is not an investment advisor, and any content published by ETF Database does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. From time to time, issuers of exchange-traded products mentioned herein may place paid advertisements with ETF Database. All content on ETF Database is produced independently of any advertising relationships. Read the full disclaimer here.Friday’s ETF Chart To Watch: MSCI Canada Index Fund (EWC)
Stocks managed to hold their ground yesterday even after Wednesday’s extraordinary rally, although profit-taking pressures did creep in throughout the day as news from the Fed minutes spooked some. The bull train on Wall Street lost a bit of steam on Thursday after policymakers from the Federal Reserve commented that the ongoing monthly bond-repurchase program would likely end sometime this year. On the labor market front, the outlook remains mixed after the ADP employment report beat expectations, while weekly jobless claims came in higher-than-expected [Download How To Pick The Right ETF Every Time].
In addition to the domestic employment report coming out later today, investors will also bring their attention to Canada’s latest jobs data before the opening bell. As such, our spotlight will shift to the iShares MSCI Canada Index Fund (EWC, B), which could see an uptick in trading activity as markets react to the latest labor market developments. Analysts are expecting Canada’s unemployment rate to come in at 7.3% versus the previous reading of 7.2% [see our Free ETF Country Exposure Tool].
EWC started off the year with a bang alongside major equity indexes, however, profit-taking pressures the following day hit this ETF particularly hard and erased a bulk of the gains accumulated during the first trading day of 2013. Nonetheless EWC appears poised to continue its uptrend (blue line) judging by its rising level of support since bottoming out in mid-November of 2012. Despite the attractive technical set-up for further upside in the near-term, EWC could soon face profit-taking pressures as it looks to summit $29 a share (red line), a resistance level that remains unconquerable since 2011 [see The 5 Most Important Chart Patterns For ETF Traders].
Click to EnlargeWe advise conservative investors to hold off from jumping in long until this ETF establishes definitive support above the $29 mark for five or more consecutive days, depending on individual risk tolerance [see 5 Important ETF Lessons In Pictures].
If Canada’s labor market shows signs of improvement, EWC could have the wind at its back on the day; in terms of upside, the next major resistance level for this ETF lies around the $29 level. On the other hand, if investors are unhappy with the latest employment report, profit-taking pressures could intensify; in terms of downside, the next support level for EWC comes in at around $28 a share. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques.
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[For more ETF analysis, make sure to sign up for our free ETF newsletter or try a free seven day trial to ETFdb Pro]
Disclosure: No positions at time of writing.
ETF Database is not an investment advisor, and any content published by ETF Database does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. From time to time, issuers of exchange-traded products mentioned herein may place paid advertisements with ETF Database. All content on ETF Database is produced independently of any advertising relationships. Read the full disclaimer here.Sam Wins a Third Time! She Now Faces Off Against Annalee – Vote for a New Cutest Couple!
Facebook.com Sam won this week’s contest AGAIN for the cutest “couple photo” among our Facebook fans! She gets a $50 gift certificate to Harry Ritchie’s Jewelers.
Now Sam faces off against Annalee. This week the winner gets two tickets to an upcoming Tri-City Americans hockey game. Vote for your favorite!
If you’d like to play, give us your Facebook page ULR here: See All the Cutest Couple Contests
Haines Alaska kicked off the first tour of 2012
John Schnabel once told me he would pick up hitch hikers and bring them into town on his way home from Big Nugget Gold Mine and he would always know when he got a person who was on a rich diet of hooligan oil. John said he would roll the windows down, stick his head out and drive 75 mph all the way to Haines to try and escape the smell. I appreciate that story much more now that I have partaken.
I’m sorry to say, that was the end of the tour for me. I had to leave quickly and find the nearest store where I drank a bottle of the hottest salsa I could find, but the rotten fish taste and smell still didn’t leave me for another two days.
I heard the tour group got along fine without me. They saw the totem pole carvers at work and they had a mighty fine salmon lunch. Over all, it was a great two day tour to kick off our 2012 season.
Haines Alaska is a great place to visit…but proceed with caution when trying new foods.
Posted By: Holly Jo Parnell, RGA Guide & local blogger. Opinions and views of this blog do not necessarily represent the opinions and views of Rainbow Glacier Adventures.
I am following John & Parker Schnabel on Gold Rush Season 3
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