A Look Ahead: Next Week's ETFs To Watch
Another trading week is in the books and it would appear the bad news bulls are once again in charge of this market. At some point, you've got to feel sorry for the bears that keep missing opportunity after opportunity to force this market lower.
Oh well, such is life in the financial markets. Next week promises to be interesting in terms of economic data points. Monday brings news of personal income and personal spending. Tuesday we get the consumer confidence report and Friday brings the March jobs number.
With that, let's take a look at some ETFs that will be in play next week.
2) Market Vectors Rare Earths/Strategic Metals ETF (NYSE: REMX): Despite a down day on Friday, REMX has been on fire over the past week and is now bumping against some heavy resistance. Nary a day goes by without some news impacting the rare earths sector, so put this one high up on your list of trading ideas for next week.
3) SPDR Gold Shares (NYSE: GLD) and iShares Silver Trust (NYSE: SLV): The positive price action in these two metals is just too compelling to ignore. Any dips are probably meant to be bought as the price forecasts for both gold and silver are well ahead of where both currently trade.
4) WisdomTree International Energy ETF (NYSE: DKA): DKA is a two-pronged play. It's a play on oil prices and it's potentially a play on more new Gulf of Mexico permits being awarded. Expect one of those scenarios to move the ETF next week.
5) iShares MSCI South Korea Index Fund (NYSE: EWY): We were slightly ahead of the curve in highlighting the virtues of EWY earlier this week as the ETF has been one of the more reliable emerging markets performers as of late. The chart looks strong, so look for the bullish momentum to continue.
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