TradingMarkets 7 ETFs You Need to Know for Friday

By | TradingMarkets.com | June 04, 2009 03:40 PM
Symbols: XLF, UYG, XLV, IYH, IYE

Stocks rallied modestly on Thursday, with financials and energies leading the way higher.

Here are 7 ETFs You Need to Know for Friday.


After a three-day pullback, the Financial Select Sector SPDR ETF ( XLF | Quote | Chart | News | PowerRating) was one among a number of financial-related exchange-traded funds to move higher on Thursday. Gaining more than 5% intra-day was the ProShares Ultra Financial ETF ( UYG | Quote | Chart | News | PowerRating), back in overbought territory below the 200-day moving average.


Rallying after a two-day pullback above its 200-day moving average was the iShares Dow Jones Energy Services Index ETF ( IYE | Quote | Chart | News | PowerRating), which benefited from strong energy prices on Thursday.


Sellers emerged in health care-related ETFs on Thursday, taking advantage of recent gains by taking profits in ETFs like the Health Care Select SPDR ETF ( XLV | Quote | Chart | News | PowerRating) and the iShares Dow Jones Healthcare Services ETF ( IYH | Quote | Chart | News | PowerRating), both off more than 1% intra-day.


After dipping into oversold territory above its 200-day moving average on Wednesday, shares of the Market Vectors Coal ETF ( KOL | Quote | Chart | News | PowerRating) were up by more than 4% intraday late on Thursday.


While a number of country ETFs - especially in Asian - were rallying from recent oversold conditions above the 200-day, a few funds, such as the iShares MSCI Taiwan Index ETF ( EWT | Quote | Chart | News | PowerRating) remained largely oversold during Thursday's trading.


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Original publication: June 04, 2009

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