A Look Ahead: Next Week's ETFs To Watch
Another week in the books and the market continues to show it's impervious or immune to or simply igonoring international headline risk. The week just finished brought investors the hurdles of more negative nuclear-related news out of Japan, more news of escalating violence in Libya and, to top it all off, Europe's sovereign debt woes were back in focus.
So what was the result? End-of-quarter window dressing and a solid March jobs report pushed the S&P 500 to its longest winning streak since February and the major indexes, along with plenty of stocks and ETFs, are looking poised to take out their February highs.
Let's take a look at some viable ETF plays for the week ahead.
1) Market Vectors Agribusiness ETF (NYSE: MOO): MOO will once again be in the spotlight following last week's run in the limelight thanks to Mosaic's (NYSE: MOS) earnings report and a very bullish USDA grains report. Monsanto (NYSE: MON) reports earnings on Wednesday, so keep an eye on MOO as a way to play that report.
2) WisdomTree International Energy ETF (NYSE: DKA): For the trader that is looking for an energy ETF that isn't residing in the 60s, 80s or triple digits, but still offers plenty of exposure to companies that are plenty levered to oil prices, DKA offers a smart way to establish bullish stance on oil. Global oil majors such as Royal Dutch Shell (NYSE: RDS-A) and Total (NYSE: TOT) lead the way in DKA.
3) Any Brazil-specific ETF Wow, these charts are really starting to look solid and it appears emerging markets ETFs are starting to shake out of their doldrums seen earlier this year. Of course, the iShares MSCI Brazil Index Fund (NYSE: EWZ) has to be mentioned among the lexicon of Brazil ETFs, but don't forget about the Market Vectors Brazil SmallCap ETF (NYSE: BRF) and the EGShares Brazil Infrastructure ETF (NYSE: BRXX).
4) PowerShares Dynamic Industrials ETF (NYSE: PRN): Look at some of the best performers in the Dow last week and you'll find industrials were among the leaders once again. So if you're craving exposure to that group, PRN is a fine idea. On a technical basis, PRN will be in breakout mode if it conquers resistance just above $33.
5) Direxion Daily Small Cap Bull 3X Shares (NYSE: TNA): The Russell 2000 was the first of the major U.S. indexes to reach a new 2011 high, achieving that distinction earlier this week. Sentiment toward small-caps is a great way to gauge how fund managers are feeling about the broader market and for those looking for a little added volatility with already volatile asset class, TNA is the way to go. Watch for a move above resistance at $90 here.
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