ETF Headline Watch: February 13th, 2012 (VGK, IEV, EWG, GLD, VXX)

ETF Headline Watch, February 13th, 2012: ETFs making headlines today involve Europe ETFs, gold ETFs, and VIX ETFs.

Vanguard Europe MSCI ETF VGK, iShares S&P Europe 350 Index ETF IEV, iShares MSCI Germany Index Fund ETF EWG:  In a word again, Greece.  Greece has authorized further austerity measures amid riots and burning buildings in Athens; Europe ETFs are worth watching today as the Eurozone moves forward in their debt resolution plans and investors react to Greece progress.  Despite the fact that Greece made its “deadline” by one day and is saved for now, the Greek resolution does not mean game over by any means for the likes of Spain, Portugal, or Italy.

SPDR Gold Trust ETF GLD: Gold and Gold ETFs like NYSEARCA:GLD are worth watching today because of Greece and the Eurozone as well.  Since gold and gold ETFs are seen as a safe haven currency and viewed as an inflation hedge when compared to weak currencies, it will be interesting to see how gold investors react to today's European and Greek action.

iPath S&P 500 VIX Short-Term Futures ETN VXX:  The “fear” ETF is worth watching today just to see how scared investors really are of markets.  NYSEARCA:VXX tracks the CBOE “fear” VIX index: the index typically rises when stocks fall as there is more “fear” in the marketplace, while the index typically declines when stocks rise as “fear” exits the marketplace.  It will be interesting to watch the NYSEARCA:VXX ETF today to see how much fear (or lack thereof) will be in the marketplace after Greece's landmark legislation.

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Disclaimer: Wall Street Sector Selector trades a wide variety of ETFs and positions can change at any time.