by Robert W. Colby, Senior Analyst TraderPlanet.com
Stock Market: price indexes recovered slightly as Crude Oil fell 3.5%.
Energy was the only one of the nine major stock sectors to decline.
But still, the breadth of the market lagged, as indicated by more Declines than Advances on the NYSE.
NASDAQ Composite Relative Strength Ratio rose to a new 8-month high.
Growth Stock/Value Stock Relative Strength Ratio rose to another new 3-year high.
The Small Cap/Large Cap Relative Strength Ratio rose to a new 11-month high.
Materials Stock Sector Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.
On Wednesday, major stock price indexes chopped up and down all day and finally closed slightly higher. The S&P 500 closed at 1,342.83, up 5.02 points or 0.38%. But the breadth of the market showed 1.008 to 1 declines over advances on the NYSE. There were 2.29 to 1 New Lows to New Highs on the NYSE, and more than that on the NASDAQ. Total NYSE volume rose 6%.
I have been assuming that the March-May rally was nothing more than a counter-trend rally and Secondary Reaction Continuation Pattern within the context of a Primary Bearish Trend. The sum total weight of the evidence for the stock market in general appears to be taking on a more Bearish tilt again since the rally top on 5/19/08. The short-term general market action has been subject to rapid and frequent change, so a cautious approach still seems prudent.
Spotlight on event stocks: Here is a stock screen I designed to pick out potential “event” stocks, both Bullish and Bearish. Sometimes, stocks with large changes in price and volume are revealed to be deal stocks, sooner or later, or are the subject of some other extraordinary events, positive or negative.
Bullish Stocks: Rising Price and Rising Volume
% Price Change, Symbol , Name
7.33% , LNCR , Lincare Holdings Inc
1.88% , XBI , Biotech SPDR, XBI
7.03% , RYAAY , Ryanair Holdings plc
2.32% , PBE , Biotech & Genome, PBE
1.03% , RFV , Value MidCap S&P 400, RFV
2.32% , VNQ , REIT VIPERs, VNQ
7.59% , BRCM , BROADCOM STK A
7.03% , MRVL , MARVELL TECHNOLOGY
1.07% , PEJ , Leisure & Entertainment, PEJ
2.26% , RWR , REIT Wilshire, RWR
2.61% , IGW , Semiconductor iS GS, IGW
5.15% , WYE , WYETH
4.22% , X , US STEEL CORP
0.87% , PTE , Telecommunications & Wireless, PTE
3.43% , CFC , COUNTRYWIDE FNCL
2.72% , TIN , TEMPLE INLAND
1.69% , IBB , Biotechnology, IBB
0.52% , IXJ , Healthcare Global, IXJ
0.38% , VV , LargeCap VIPERs, VV
1.71% , BBH , Biotech H, BBH
2.33% , PSI , Semiconductors, PSI
3.86% , STLD , Steel Dynamics, STLD
3.97% , GENZ , GENZYME GEN
5.29% , LSI , LSI LOGIC
3.68% , RHT , Red Hat Inc.
0.93% , JKK , Growth SmallCap iS M, JKK
3.54% , NWL , NEWELL RUBBER
3.78% , GILD , Gilead Sciences Inc
1.67% , PJP , Pharmaceuticals, PJP
2.09% , DHR , DANAHER
1.74% , FLEX , Flextronics International Ltd
2.56% , FE , FIRSTENERGY
1.75% , LLY , ELI LILLY
2.12% , MRK , MERCK & CO
3.78% , PFG , PRINCIPAL FINL
2.73% , MMC , MARSH & MCLENNAN
1.50% , PTEN , Patterson-UTI Energy Inc
0.71% , UTH , Utilities H, UTH
2.40% , SUN , SUNOCO
1.17% , IYJ , Industrial LargeCap Blend DJ US, IYJ
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol , Name
-17.05% , XMSR , XM Satellite R
-6.95% , CI , CIGNA
-7.71% , UNH , UNITEDHEALTH GRP
-12.35% , SIRI , Sirius Satellite
-5.16% , WLP , WELLPOINT HEALTH
-3.80% , HUM , HUMANA
-1.76% , AET , AETNA
-5.93% , MOT , MOTOROLA
-0.54% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-5.62% , MTG , MGIC INVESTMENT
-1.81% , RAI , RJR TOBACCO HLDS
-1.73% , CC , CIRCUIT CITY STR
-2.33% , DBC , Commodity Tracking, DBC
-2.40% , XLE , Energy SPDR, XLE
-4.12% , NE , NOBLE
-2.04% , BJS , BJ SERVICES
-0.14% , EWI , Italy Index, EWI
-3.09% , SOV , SOVEREIGN BANC
-4.03% , RDC , ROWAN COMPANIES
-3.59% , USO , Oil, Crude, U.S. Oil Fund, USO
-6.88% , HBAN , HUNTINGTON
-1.63% , FHN , FIRST TENNESSEE
-1.91% , LM , LEGG MASON
-4.98% , HES , AMERADA HESS
-1.55% , LBTYA , Liberty Global Inc. (LBTYA)
-3.73% , OXY , OCCIDENTAL
-3.11% , QID , Short 200% QQQ PS, QID
-0.36% , FEZ , Euro STOXX 50, FEZ
-0.63% , EFV , Value EAFE MSCI, EFV
-1.89% , EWK , Belgium Index, EWK
-2.21% , BSX , BOSTON SCIENT
-2.62% , WMB , WILLIAMS
-1.13% , C , CITIGROUP
-1.56% , PSQ , Short 100% QQQ, PSQ
-1.85% , EWN , Netherlands Index, EWN
-2.05% , EOG , EOG RESOURCES
-1.69% , EWC , Canada Index, EWC
-0.51% , EWD , Sweden Index, EWD
-0.15% , ADRA , Asia 50 BLDRS, ADRA
-2.14% , GLW , CORNING
Sectors: among the 9 major U.S. sectors, 1 rose and 8 fell.
Major Sectors Ranked for the Day
% Price Change Sector
1.30% Industrial SPDR, XLI
1.27% Consumer Discretionary SPDR, XLY
1.07% Financial SPDR, XLF
0.37% Technology SPDR, XLK
0.33% Consumer Staples SPDR, XLP
0.18% Materials SPDR, XLB
0.13% Health Care SPDR, XLV
0.12% Utilities SPDR, XLU
-2.40% Energy SPDR, XLE
Primary Tide Trends for the 9 major sectors last for years. Here are my up-to-date Relative Strength Rankings, as measured with emphasis on these long-term Primary Tide Trends (listed in order of long-term relative strength):
Energy (XLE) Neutral, Market Weight. On 6/18/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.
Materials (XLB) Neutral, Market Weight. On 6/19/08, XLB/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.
Utilities (XLU) Neutral, Market Weight. On 6/18/08, XLU/SPY Relative Strength Ratio rose to a new 5-month high. Since 10/17/02, the XLU/SPY Relative Strength Ratio has outperformed substantially. Since 5/15/08, the XLU/SPY Relative Strength Ratio has been rising again. So, Utilities have outperformed the S&P 500 both long term and short term.
Consumer Staples (XLP) Neutral, Market Weight. On 6/10/08, XLP /SPY Relative Strength Ratio rose to another new 8-week high. For nearly 8 years, since 9/27/00, the XLP/SPY Relative Strength Ratio has outperformed, so the long-term trend is up.
Technology (XLK) Neutral, Market Weight. On 6/6/08, the XLK/SPY Relative Strength Ratio rose to a new 5-month high, confirming an improving intermediate-term trend.
Industrial (XLI) Bearish, Underweight. On 6/16/08, the XLI/SPY Relative Strength Ratio fell to its lowest level in 4 months. Since 3/31/08, the XLI/SPY Relative Strength Ratio has underperformed.
Health Care (XLV) Bearish, Underweight. Since 10/9/02, the XLV/SPY Relative Strength Ratio has underperformed substantially. On 5/15/08, the XLV/SPY Relative Strength Ratio fell to another new 6-year low, again confirming the existing Primary Bearish trend.
Consumer Discretionary (XLY) Bearish, Underweight. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially. On 1/11/08, the XLY/SPY Relative Strength Ratio fell to a new 6-year low, confirming a major downtrend.
Financial (XLF) Bearish, Underweight. On 6/11/08, the XLF/SPY Relative Strength Ratio fell to its lowest level in more than 7 years. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.
Foreign stock index EFA Relative Strength Ratio broke down to another new 11-week low on 6/13/08, confirming a significant downside correction. Since 5/23/08, EFA has underperformed the U.S. stock market. Previously, EFA outperformed from 2/8/08 to 5/23/08 and, longer term, since the major bottom on 3/12/03. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.
NASDAQ Composite Relative Strength Ratio rose to a new 8-month high. It has been outperforming the S&P 500 since 3/3/08.
Growth Stock/Value Stock Relative Strength Ratio rose to another new 3-year high on 6/19/08. Long term, the Growth/Value ratio (IWF/IWD) has been in an uptrend since 8/8/06.
The Small Cap/Large Cap Relative Strength Ratio rose to a new 11-month high on 6/19/08. The major trend appears to be turning to Small Caps.
Crude Oil July futures contract fell 3.5% to 131.93, near the lower end of its 8-day trading range. Oil appears to be consolidating sideways over the past 8 trading days. Trends are still Bullish in longer time frames. U.S. OIL FUND ETF (AMEX: USO) is not a pure play on Crude Oil, although it generally moves in the same direction.
The Energy stock sector has underperformed Crude Oil since 12/10/07.
Gold August futures contract price has rallied for 5 trading days. Gold might be getting a bit overbought on a short-term trading basis. Gold has been in a choppy downside correction since 3/17/08. On 6/12/08, gold broke down below previous 6-week lows to confirm an intermediate-term downtrend.
U.S. Treasury Bond September futures contract price retraced a normal fraction of its previous 3-day gain. Trends in all time frames still appear vulnerable to further price decline.
The U.S. dollar broke below the lows of the previous 6 trading days but reversed to close slightly higher. The dollar has been in a choppy sideways trading range since its low on 3/17/08. The long-term Primary Tide trend is still Bearish.
The Art of Contrary Thinking: Traders need to be extremely nimble to keep up with rapid changes in the mass mood of late. The business and financial news has flipped from fear to hope and back again many times in recent months, creating an extremely choppy trading environment. Investors’ moods and stock volatility have jumped up and down abruptly with the latest “reports”. When mass psychology shifts so dramatically and unpredictably from hope to fear, without warning, risk control becomes more important than aggressive profit seeking. Stay flexible.
Sentiment/Contrary Opinion: There were 36.3% Bulls versus 37.4% Bears as of 6/20/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 0.97, down from 1.32 the previous week. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47.
VIX “Fear Index” is now at 21.58. VIX fell from a peak of 32.64 on 3/17/08 to a low of 16.30 on 5/15/08, indicating decreasing Fear. The all-time high was 45.74 on 10/8/98. The all-time low was 9.89 on 1/24/07. VIX is a market estimate of expected constant 30-day volatility, calculated by weighting S&P 500 Index CBOE option bid/ask quotes spanning a wide range of strike prices for the two nearest expiration dates.
VXN “Fear Index” is now at 24.80. VXN fell from a peak of 35.63 on 1/22/08 to a low of 20.00 on 5/16/08, indicating decreasing Fear. The all-time high was 114.23 on 10/8/98. The all-time low was 12.61 on 7/29/05. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.
CBOE Put/Call Ratio is 0.76, which indicates moderately Bearish sentiment. Its 4-year simple moving average and median are 0.62, and its 4-year range is 0.35 to 1.28.
ISEE Call/Put Ratio is 1.18, which indicates Bearish sentiment. The ratio’s 4-year simple moving average is 1.50, 4-year median is 1.47, and 4-year range is 0.51 to 3.04.
Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and the net balance of positive earnings surprises. The unfolding fallout from the subprime credit market crisis has derailed that engine. Economic statistics and corporate earnings have weakened.
A Secondary Reaction was signaled on 4/18/28, when the Dow-Jones Industrials and Transports both closed at 3-month highs. But the Primary Tide Major Trend still may be Bearish. On 6/5/08, the Transportation Average closed above its previous all-time closing high, while the Industrial Average languished far below its all-time closing high of 14,164.50 set on 10/9/07. Such a non-confirmation and divergence means that the companies that produce the goods are not keeping pace with the companies that deliver the goods, the market is out of balance, and there is no Buy Signal because the Dow Theory requires both Averages to make new highs. The Dow Theory confirmed a Primary Bear Market on 11/21/07 when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed below their respective closing price lows of August, 2007.
To discover the next Resistance, traders probably will be watching how the market acts at the following levels for the Standard & Poor’s 500 cash index (1,337.81):
Potential Resistance
1,576.09, high of 10/11/2007
1,552.76, high of 10/31/2007
1,523.57, high of 12/11/2007
1,498.85, high of 12/26/2007
1,440.24, high of 5/19/2008
1,406.32, high of 5/29/2008
To discover the next Support, traders probably will be watching how the market acts at the following levels for the S&P 500 cash index (1,337.81):
Potential Support
1,324.35, low of 4/15/2008
1,256.98, low of 3/17/2008
1,224.54, low of 7/18/2006
1,219.29, low of 6/14/2006
1,214.45, low of 11/4/2005
1,201.07, low of 11/2/2005
1,168.20, low of 10/13/2005
1,163.23, high of 3/5/2004
1,159.86, low of 5/17/2005
1,153.64, low of 5/16/2005
1,146.18, low of 5/13/2005
1,139.14, low of 4/29/2005
1,136.37, low of 4/20/2005
Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:
4.95% Internet Infrastructure H, IIH
3.29% Transportation Av DJ, IYT
3.07% Semiconductor SPDR, XSD
3.07% Homebuilders SPDR, XHB
2.83% Ultra QQQ Double, QLD
2.61% Semiconductor iS GS, IGW
2.34% Realty Cohen & Steers, ICF
2.33% Semiconductors, PSI
2.32% Biotech & Genome, PBE
2.32% REIT VIPERs, VNQ
2.26% REIT Wilshire, RWR
2.09% Retail, PMR
2.06% Real Estate US DJ, IYR
2.05% Networking, PXQ
1.90% Semiconductor H, SMH
1.88% Biotech SPDR, XBI
1.81% Software, IGV
1.71% Biotech H, BBH
1.69% Biotechnology, IBB
1.67% Pharmaceuticals, PJP
1.56% Growth LargeCap NASDAQ 100, QQQQ
1.51% Retail H, RTH
1.49% Networking, IGN
1.46% Aerospace & Defense, PPA
1.43% Growth SmallCap Dynamic PS, PWT
1.36% WilderHill Clean Energy PS, PBW
1.33% Technology MS sT, MTK
1.31% Internet B2B H, BHH
1.30% Industrial SPDR, XLI
1.28% Broadband H, BDH
1.27% Consumer Discretionary SPDR, XLY
1.27% Software H, SWH
1.23% Technology DJ US, IYW
1.23% OTC Dynamic PS, PWO
1.21% Growth LargeCap NASDAQ Fidelity, ONEQ
1.18% Consumer Cyclical DJ, IYC
1.17% Industrial LargeCap Blend DJ US, IYJ
1.17% Growth MidCap S&P 400, RFG
1.15% Info Tech VIPERs, VGT
1.13% Consumer D. VIPERs, VCR
1.10% Nanotech Lux, PXN
1.10% Industrials VIPERs, VIS
1.09% Value SmallCap Dynamic PS, PWY
1.09% Technology GS, IGM
1.08% Ultra MidCap400 Double, MVV
1.08% SmallCap Core iS M, JKJ
1.07% Germany Index, EWG
1.07% Leisure & Entertainment, PEJ
1.07% Financial SPDR, XLF
1.04% Growth Mid Cap Dynamic PS, PWJ
1.03% Value MidCap S&P 400, RFV
1.00% Growth Small Cap DJ, DSG
0.93% Growth SmallCap iS M, JKK
0.91% Internet H, HHH
0.91% South Africa Index, EZA
0.89% Value SmallCap S&P 600, RZV
0.87% Growth BARRA Small Cap 600, IJT
0.87% Telecommunications & Wireless, PTE
0.87% Pharmaceutical H, PPH
0.86% Building & Construction, PKB
0.85% Internet Architecture H, IAH
0.85% Value SmallCap iS M, JKL
0.83% Wilshire 5000 ST TM, TMW
0.83% SmallCap Russell 2000, IWM
0.83% Growth SmallCap VIPERs, VBK
0.82% Hardware & Electronics, PHW
0.80% Mexico Index, EWW
0.78% SmallCap S&P 600, IJR
0.77% Value SmallCap VIPERS, VBR
0.77% Small Cap VIPERs, VB
0.76% Value SmallCap S&P 600 B, IJS
0.75% Dividend High Yield Equity PS, PEY
0.75% Growth 1000 Russell, IWF
0.74% Financial DJ US, IYF
0.73% Software, PSJ
0.73% Growth SmallCap R 2000, IWO
0.71% Telecom Services VIPERs, VOX
0.71% Utilities H, UTH
0.69% LargeCap Blend Core iS M, JKD
0.67% Value SmallCap Russell 2000, IWN
0.66% LargeCap Blend S&P=Weight R, RSP
0.65% Microcap Russell, IWC
0.61% SmallCap PS Zacks, PZJ
0.60% Growth LargeCap Russell 3000, IWZ
0.59% Value MidCap iS M, JKI
0.57% Financials VIPERs, VFH
0.55% Health Care VIPERs, VHT
0.54% Value S&P 500, RPV
0.53% Capital Markets KWB ST, KCE
0.53% Growth LargeCap iS M, JKE
0.52% Healthcare Global, IXJ
0.52% Growth MidCap 400 B, IJK
0.51% Bank Regional H, RKH
0.51% Australia Index, EWA
0.50% Healthcare DJ, IYH
0.50% Growth VIPERs, VUG
0.49% Ultra S&P500 Double, SSO
0.46% MidCap Blend Core iS M, JKG
0.46% Growth MidCap Russell, IWP
0.44% Micro Cap Zachs, PZI
0.42% Dividend Appreciation Vipers, VIG
0.42% MidCap Russell, IWR
0.41% Pacific ex-Japan, EPP
0.41% Technology Global, IXN
0.40% Utilities VIPERs, VPU
0.39% Dividend Achievers PS, PFM
0.38% Utilities, PUI
0.38% Value 40 Large Low P/E FT DB, FDV
0.38% LargeCap VIPERs, VV
0.38% Growth Large Cap, ELG
0.38% Value LargeCap Dynamic PS, PWV
0.37% Technology SPDR, XLK
0.37% Extended Mkt VIPERs, VXF
0.37% LargeCap Blend S&P 1500 iS, ISI
0.36% MidCap S&P 400 SPDRs, MDY
0.36% Insurance, PIC
0.36% LargeCap Blend Dynamic PS, PWC
0.36% Value S&P 500 B, IVE
0.34% Value MidCap S&P 400 B, IJJ
0.34% MidCap Growth iS M, JKH
0.34% Lg Cap Growth PSD, PWB
0.34% Utilities DJ, IDU
0.33% LargeCap Blend Russell 3000, IWV
0.33% Consumer Staples SPDR, XLP
0.33% Consumer Non-Cyclical, IYK
0.33% Consumer Staples VIPERs, VDC
0.33% Value LargeCap Fundamental RAFI 1000, PRF
0.32% MidCap S&P 400 iS, IJH
0.32% Telecom DJ US, IYZ
0.32% LargeCap Blend Socially Responsible iS, KLD
0.32% Value MidCap Russell, IWS
0.32% Growth S&P 500/BARRA, IVW
0.30% LargeCap 1000 R, IWB
0.30% S&P 500 iS LargeCap Blend, IVV
0.30% Blend Total Market VIPERs, VTI
0.28% Ultra Dow30 Double, DDM
0.26% LargeCap Blend Total Market DJ, IYY
0.25% South Korea Index, EWY
0.25% DIAMONDS (DJIA), DIA
0.24% MidCap VIPERs, VO
0.22% Growth S&P 500, RPG
0.20% Value Small Cap DJ, DSV
0.20% Growth EAFE MSCI, EFG
0.19% LargeCap Rydex Rus Top 50, XLG
0.18% Materials SPDR, XLB
0.17% Hong Kong Index, EWH
0.16% Telecom H, TTH
0.16% Gold Shares S.T., GLD
0.16% Emerging Markets, EEM
0.15% Food & Beverage, PBJ
0.15% China 25 iS, FXI
0.15% China LargeCap Growth G D H USX PS, PGJ
0.14% Financial Services DJ, IYG
0.13% Health Care SPDR, XLV
0.13% Dividend Leaders, FDL
0.13% S&P 500 SPDRs LargeCap Blend, SPY
0.12% Utilities SPDR, XLU
0.10% Value VIPERs, VTV
0.08% Financials Global LargeCap Value, IXG
0.07% Short 200% Dow 30 PS, DXD
0.06% Dividend SPDR, SDY
0.04% Dividend DJ Select, DVY
0.03% LargeCap Blend S&P 100, OEF
0.00% Water Resources, PHO
0.00% Spain Index, EWP
-0.02% LargeCap Blend NYSE Composite iS, NYC
-0.04% Value 1000 Russell, IWD
-0.11% Value LargeCap Russell 3000, IWW
-0.12% France Index, EWQ
-0.13% Materials VIPERs, VAW
-0.13% Value LargeCap Euro STOXX 50 DJ, FEU
-0.14% Value Large Cap DJ, ELV
-0.14% United Kingdom Index, EWU
-0.14% Italy Index, EWI
-0.15% European VIPERs, VGK
-0.15% Asia 50 BLDRS, ADRA
-0.16% Value LargeCap NYSE 100 iS, NY
-0.16% Europe 350 S&P Index, IEV
-0.17% Short 100% Dow 30, DOG
-0.17% Pacific VIPERs, VPL
-0.18% EMU Europe Index, EZU
-0.19% Bond, 1-3 Year Treasury, SHY
-0.19% EAFE Index, EFA
-0.20% Taiwan Index, EWT
-0.21% Emerging 50 BLDRS, ADRE
-0.21% Silver Trust iS, SLV
-0.21% Dividend International, PID
-0.21% Metals & Mining SPDR, XME
-0.24% Developed 100 BLDRS, ADRD
-0.26% Short 100% MidCap 400, MYY
-0.27% Short 100% S&P 500, SH
-0.28% Value Line Timeliness MidCap Gr, PIV
-0.31% Japan Index, EWJ
-0.32% Global 100, IOO
-0.36% Euro STOXX 50, FEZ
-0.38% Telecommunications Global, IXP
-0.40% Value LargeCap iS M, JKF
-0.41% Dividend Growth PS, PHJ
-0.43% Latin Am 40, ILF
-0.45% Short 200% S&P 500 PS, SDS
-0.46% Europe 100 BLDRS, ADRU
-0.47% Singapore Index, EWS
-0.51% Sweden Index, EWD
-0.51% Bond, Aggregate, AGG
-0.52% Bond, Corp, LQD
-0.54% Japan LargeCap Blend TOPIX 150, ITF
-0.57% Bond, 10 Year Treasury, IEF
-0.58% Global Titans, DGT
-0.59% Bond, 20+ Years Treasury, TLT
-0.62% Bond, TIPS, TIP
-0.63% Value EAFE MSCI, EFV
-0.64% Switzerland Index, EWL
-0.65% Malaysia Index, EWM
-0.66% Value MidCap Dynamic PS, PWP
-0.70% Basic Materials DJ US, IYM
-0.72% Oil & Gas, PXJ
-0.73% IPOs, First Tr IPOX-100, FPX
-0.86% Short 200% MidCap 400 PS, MZZ
-0.95% Austria Index, EWO
-0.96% Brazil Index, EWZ
-1.30% Emerging VIPERs, VWO
-1.38% Oil Services H, OIH
-1.56% Short 100% QQQ, PSQ
-1.61% Energy Global, IXC
-1.69% Canada Index, EWC
-1.85% Netherlands Index, EWN
-1.89% Belgium Index, EWK
-1.90% Energy VIPERs, VDE
-2.02% Energy DJ, IYE
-2.32% Natural Resource iS GS, IGE
-2.33% Commodity Tracking, DBC
-2.40% Energy SPDR, XLE
-3.11% Short 200% QQQ PS, QID
-3.59% Oil, Crude, U.S. Oil Fund, USO
-3.73% Energy Exploration & Prod, PXE
