ETFs For Wednesday October 28, 2009
Continuing our new feature, the ETF Professor brings you the ETF Watchlist for Wednesday October 28, 2009.
With the Baltic Dry Index on the rise and DryShips reporting some nice earnings on Monday, the Claymore/Delta Global Shipping Index (NYSE: SEA) and the PowerShares Global Progressive Transport (NYSE: PTRP) could see some bullish trade. That said, both are very thinly traded.
The SPDR S&P Retail ETF (NYSE: XRT) got whacked on Tuesday, tumbling to its lowest in a month, so keep an eye out for a rebound.
The Professor thinks consumer staples might be in play again as risk appetites wanes a bit and that could be good things ahead for the Consumer Staples Sector SPDR (NYSE: XLP).
With ConocoPhillips (NYSE: COP) and Hess (NYSE: HES) reporting earnings tomorrow, the Energy Select Sector SPDRS ETF (NYSE: XLE) should be in play.
With the plunge suffered by U.S. Steel (NYSE: X) and ArcelorMittal's earnings report (NYSE: MT) before the bell, the Market Vectors Steel ETF (NYSE: SLX) will be worth following again.
The Ultra Oil and Gas ProShares (NYSE: DIG) has been holding nicely above its 20-day average and an ideal entry would be above $37.05. For leveraged play, check out the Direxion Daily Energy Bull 3X Shares (NYSE: ERX) on a move above $48.50.
