A Look Ahead: Next Week's ETFs To Watch
It has been another fun-filled week for U.S. stocks and ETFs as nothing, not slack earnings, not Egypt seems to be able to derail this market. These are painful days to be short much of anything, but let's have a look at where some profitable ETF opportunities lie for next week's trading.
1) Market Vectors Egypt ETF (NYSE: EGPT):
An obvious candidate lead off the list, EGPT got a 5% bump today on news that President Hosni Mubarak is leaving office. That's the good news. The concern is how much of EGPT's rally is overdone. Perhaps a fair bit. The military now controls Egypt and military control over developing nations never works out well for the economy and financial markets in those countries. Egypt may have just traded one dictatorship for another and that could be bad news for EGPT down the road.
2) Global X/InterBolsa FTSE Colombia 20 (NYSE: GXG):
We recently noted that GXG's chart looks broken and if not for the slack volume in this ETF, we would probably advise a short trade, but Ecopetrol (NYSE: EC), Colombia's state-run oil producer and GXG's top holding, reports earnings on Tuesday making GXG perhaps a fine trading idea.
3) iShares MSCI Italy Index Fund (NYSE: EWI):
Believe it or not, EWI has been one of the better ETFs to own in 2011. Top holding Eni (NYSE: E), which accounts for over 18% of EWI, reports earnings on Tuesday.
4) Market Vectors Agribusiness ETF (NYSE: MOO):
Commodities prices keep on racing higher and that's good news for many of the stocks in MOO's fold. Top-10 holding Deere (NYSE: DE) reports earnings on Wednesday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.