A Look Ahead: Next Week's ETFs To Watch
Thank goodness it's Friday and thank goodness we're heading into a long weekend. Moreover, it's probably good news there's just one trading day left in May after today because the “sell in May” crowd has certainly asserted itself this month.
Stocks got off to a rocky start this week as Europe's sovereign debt woes continued to roil global equity markets, but equities gained some strength as the week wore on and at the very least, the bulls can head into the long weekend on a cheery note.
While next week is a short week, it will no doubt be filled with opportunity, especially with the May jobs report looming next Friday. So let's get the weekend started with some ETFs to keep an eye on next week.
SPDR Gold Shares (NYSE: GLD) and the Market Vectors Gold Miners ETF (NYSE: GDX): If you're a believer in the seasonal trends of commodities, then this is the time of year to start to paying attention to gold. India's wedding season is about to kick-off and that scenario has proven to be a positive catalyst for gold in the summer months.
Oil Services HOLDRs (AMEX: OIH) and the U.S. Oil Fund (NYSE: USO): Another pair of seasonal plays as the Memorial Day weekend marks the start of the summer driving season. Goldman Sachs and Morgan Stanley were out with some supportive remarks about oil earlier this week, so let's see how long enthusiasm for oil and oil equities lasts. The Guggenheim Airline ETF (NYSE: FAA) should be one to watch as well.
Market Vectors Coal ETF (NYSE: KOL): KOL has held up pretty well in a challenging market environment the past week or so and is now flirting with its 50-day moving average. In addition to being a technical play, KOL's fourth-largest holding, Joy Global (Nasdaq: JOYG), reports earnings on Thursday and this will be an important report for KOL and plenty of other materials ETFs.
ETFS Physical Platinum Shares (NYSE: PPLT) and ETFS Physical Palladium Shares (NYSE: PALL): Things that make you go hmmm: Japan's largest platinum refiner forecasts a massive global platinum supply increase because Japan will be producing fewer cars this year due to the March earthquake that struck the country. Bloomberg News broke that story early Thursday morning. Thursday evening, CME Group (NYSE: CME) lowers margin requirements on platinum and palladium futures contracts.
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