RobertWColby's Commentaries
Daily Stock Market Update
Stock Market: mixed in slower trading.
Materials (XLB) Stock Sector Relative Strength Ratio (XLB/SPY) rose above the highs of the previous 11 weeks on 12/2/09. XLB/SPY is in bullish relative trends for the short, intermediate, and long terms. XLB/SPY remains above rising 50- and 200-day simple moving averages. Absolute price of XLB moved above highs of the previous 14 months on 12/2/09.
Utilities (XLU) Stock Sector Relative Strength Ratio (XLU/SPY) rose above the highs of the previous 8 weeks on 12/2/09, signaling a short-term uptrend. XLU/SPY crossed above its 50-day simple moving average, which turned upward. XLU/SPY remains below its 200-day simple moving average, which is still falling. Absolute price of XLU moved above highs of the previous 14 months on 12/2/09.
Energy (XLE) Stock Sector Relative Strength Ratio (XLE/SPY) fell below the lows of the previous 8 weeks on 12/2/09, again confirming its preexisting 6-week downtrend. XLE/SPY also is below its 50- and 200-day simple moving averages, which are falling bearishly.
Gold rose to another new all-time high of 1217.3 on 12/2/09, again confirming preexisting bullish trends in all time frames. There is no upside resistance, and big upside objectives are readable on the charts.
Copper broke out to another new 14-month high of 3.2445 on 12/2/09, confirming bullish trends in all time frames. Rising copper prices suggest growing confidence about global economic prospects.
Advisory Service Sentiment jumped to the most bullish extreme in more than 2 years, which is bearish according to “The Art of Contrary Thinking”.
The doubtful Dubai debt debacle (how do they get away with it?): “Massive Selling Before The Dubai Debacle Means Inside Information Was Leaked”--
http://www.businessinsider.com/insider-traders-got-ahead-of-the-dubai-debacle-2009-12
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
0.88% , PTE , Telecommunications & Wireless, PTE
9.38% , CAR , Avis Budget Group, Inc. (CAR)
9.68% , LVLT , LEVEL 3 COMMUNICATIONS
5.02% , MU , MICRON TECH
1.58% , PWY , Value SmallCap Dynamic PS, PWY
4.89% , CIEN.O , CIENA
1.07% , BDH , Broadband H, BDH
6.56% , AA , ALCOA
2.13% , FHN , FIRST TENNESSEE
2.30% , NOVL , NOVELL
0.74% , PIC , Insurance, PIC
1.30% , PWT , Growth SmallCap Dynamic PS, PWT
5.32% , LRCX , LAM RESEARCH CORP
5.55% , LPX , LOUISIANA PAC
6.62% , RFMD , RF Micro Devices Inc
2.16% , NVLS , NOVELLUS SYS
2.74% , FAST , Fastenal Company
0.44% , PWO , OTC Dynamic PS, PWO
1.11% , JKJ , SmallCap Core iS M, JKJ
4.39% , BMS , BEMIS
3.41% , SNA , SNAP ON
1.04% , VOX , Telecom Services VIPERs, VOX
4.29% , ASH , ASHLAND
2.15% , DTE , DTE ENERGY
0.55% , JKG , MidCap Blend Core iS M, JKG
3.48% , TER , TERADYNE
2.34% , ETFC.O , E*TRADE FINANCIAL
0.42% , PRF , Value LargeCap Fundamental RAFI 1000, PRF
3.60% , GLW , CORNING
0.66% , RFG , Growth MidCap S&P 400, RFG
0.71% , JKI , Value MidCap iS M, JKI
1.51% , IAU , Gold COMEX iS, IAU
3.00% , NVDA , NVIDIA
1.02% , PUI , Utilities, PUI
2.76% , NI , NISOURCE
1.75% , VMC , VULCAN MATERIALS
0.39% , ADRA , Asia 50 BLDRS, ADRA
1.93% , XME , Metals & Mining SPDR, XME
3.50% , SNDK , SanDisk Corporation
0.83% , JKL , Value SmallCap iS M, JKL
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-7.93% , CMI , CUMMINS
-3.65% , DHI , D.R. HORTON, DHI
-2.97% , WAG , WALGREEN
-2.84% , CVG , CONVERGYS
-3.14% , JNY , JONES APPAREL
-2.19% , CB , CHUBB
-1.90% , VRSN , VeriSign Inc
-2.03% , NE , NOBLE
-0.79% , IIH , Internet Infrastructure H, IIH
-2.92% , MS , MORGAN STANLEY
-1.25% , IAH , Internet Architecture H, IAH
-2.24% , RYAAY , Ryanair Holdings plc
-1.16% , MMC , MARSH & MCLENNAN
-2.81% , PCAR , PACCAR
-0.87% , MI , MARSHAL & ILSLEY
-0.77% , MYY , Short 100% MidCap 400, MYY
-0.27% , PSJ , Software, PSJ
-0.81% , PXE , Energy Exploration & Prod, PXE
-0.13% , EWG , Germany Index, EWG
-1.46% , MZZ , Short 200% MidCap 400 PS, MZZ
-0.83% , KR , KROGER
-1.97% , USO , Oil, Crude, U.S. Oil Fund, USO
-1.35% , RDC , ROWAN COMPANIES
-1.11% , BLL , BALL
-1.28% , JBL , JABIL CIRCUIT
-1.43% , UNH , UNITEDHEALTH GRP
-0.36% , PXJ , Oil & Gas, PXJ
-0.85% , FII , FED INVESTORS STK B
-1.05% , DDS , DILLARD STK A
-0.38% , AAPL , APPLE COMPUTER
-0.53% , IYE , Energy DJ, IYE
-1.03% , OIH , Oil Services H, OIH
-0.35% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-0.65% , VDE , Energy VIPERs, VDE
-1.64% , MCD , MCDONALDS
-0.68% , DBC , Commodity Tracking, DBC
-0.34% , PX , PRAXAIR
-1.01% , KG , KING PHARM
-0.50% , EMR , EMERSON ELECTRIC
-0.21% , ADSK , AUTODESK
9 major U.S. stock sectors ranked in order of long-term relative strength:
Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) broke down below previous 3-week lows on 11/30/09. In addition, XLY/SPY fell below its 50-day simple moving average on 11/30/09. These breaks signal caution for the short-term. XLY/SPY remains above its rising 200-day simple moving average, which is still bullish for the longer term.
Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) rose above the highs of the previous 11 weeks on 12/2/09. XLB/SPY is in bullish relative trends for the short, intermediate, and long terms. XLB/SPY remains above rising 50- and 200-day simple moving averages. Absolute price of XLB moved above its highs of the previous 14 months on 12/2/09.
Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) slid below previous 3-week lows on 11/30/09, which suggests caution for the short-term. XLK/SPY remains above 50- and 200-day simple moving averages, which are rising bullishly. XLK/SPY rose to its highest level in 7 years on 7/22/09, confirming the preexisting bullish trend for the long term.
Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) moved above previous 3-month highs on 11/27/09, thereby confirming its preexisting 5-week uptrend. In addition, XLV/SPY is above its 50-day simple moving average, which has turned up. XLV/SPY remains below its 200-day simple moving average, which is falling bearishly.
Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) broke down below the lows of the previous 2 weeks on 11/24/09, suggesting a short-term downtrend. XLI/SPY is slightly above its 50- day simple moving average and significantly above its 200-day simple moving average.
Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) has been underperforming for nearly a year, since11/20/08. XLP/SPY is below its 200-day simple moving average, which is falling bearishly. This defensive sector underperforms when investors feel more confident and seek greater risk, and it outperforms when investors move away from risk.
Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) fell below the lows of the previous 8 weeks on 12/2/09, again confirming its preexisting 6-week downtrend. XLE/SPY also is below its 50- and 200-day simple moving averages, which are falling bearishly.
Financial (XLF) Bearish, Underweight. The Relative Strength Ratio (XLF/SPY) fell further below the lows of the previous 16 weeks on 11/27/09, again confirming the preexisting bearish trend for the intermediate-term--and probably for the long-term as well. XLF/SPY is below its 50-day simple moving average, which is falling bearishly, but remains moderately above its 200-day simple moving average.
Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) rose above the highs of the previous 8 weeks on 12/2/09, signaling a short-term uptrend. XLU/SPY crossed above its 50-day simple moving average, which turned upward. XLU/SPY remains below its 200-day simple moving average, which is still falling. Absolute price of XLU moved above its highs of the previous 14 months on 12/2/09.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) jumped back above its rising 50-day simple moving average on 12/1/09. Longer term, EEM/SPY remains above its rising 200-day simple moving average. It seems possible that the sharp downside break on Friday 11/27/09 might have been a temporary shakeout in reaction to Dubai debt news.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell further below the lows of the previous 3 months on 11/30/09, again confirming a preexisting downside correction for the intermediate term. EFA/SPY remains below its falling 50-day simple moving average but is still above its rising 200-day simple moving average.
NASDAQ Composite/S&P 500 Relative Strength Ratio fell below 5-month lows on 11/30/09, confirming its preexisting bearish trend for the intermediate term. The Ratio has been trending down since 7/23/09, remains below its falling 50-day simple moving average, but remains slightly above its rising 200-day simple moving average.
Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) rose further above the highs of the previous 3-months on 11/27/09, again confirming the preexisting bullish trend for the intermediate term. IWF/IWD remains above its rising 50- and 200-day simple moving averages, which is bullish.
Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) fell below the lows of the previous 16 weeks on 11/24/09, again confirming the preexisting bearish trend. IWD/SPY has underperformed since 9/18/09. Long term, IWD/SPY remains in a bearish trend, underperforming since 3/22/07. IWD/SPY remains below its falling 50- and 200-day simple moving averages, which is bearish.
The S&P 500 Equally Weighted ETF Relative Strength Ratio (RSP/SPY) fell further below the lows of the previous 2 months on 11/24/09. It has been in an intermediate-term downtrend since 9/16/09. The Ratio is below its falling 50-day simple moving average but above its rising 200-day simple moving average.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) has declined since peaking on 11/24/09. OEX/SPX remains above its rising 50-day simple moving average, suggesting a bullish trend for the intermediate term. But OEX/SPX remains below its falling 200-day simple moving average, suggesting a bearish trend for the longer term.
The Small Cap/Large Cap Relative Strength Ratio (IWM/SPY) fell further below the lows of the previous 8 months on 11/27/09, again confirming the preexisting bearish trend. IWM/SPY remains below its 50- and 200-day simple moving averages, which are falling bearishly.
The Mid Cap/Large Cap Relative Strength Ratio (MDY/SPY) fell further below 4-month lows on 11/30/09, confirming a downside correction since the peak on 9/06/09. MDY/SPY is below its 50- and 200-day simple moving averages.
Crude Oil nearest futures contract price remains locked in a downside correction since making a high of 82.00 on 10/21/09. Crude Oil plunged to its lowest level in 7 weeks at 72.39 (a benchmark low made on the Dubai debt news) on Friday 11/27/09, confirming its preexisting short-term downtrend. Crude Oil may need to carve out a base in weeks ahead. Oil still remains above 50- and 200-day simple moving averages, which are rising bullishly, and that tends to be bullish for the longer time frames. The Oil chart shows upside objectives significantly above current levels. Oil made a 153% gain made from the low at 32.40 on 12/19/08 to the high of 82.00 on 10/21/09 and is still considered relatively strong for the year, despite the recent sell off.
Gold nearest futures contract price rose to another new all-time high of 1217.3 on 12/2/09, again confirming preexisting bullish trends in all time frames. Technical supports might be found around previous highs and lows at 1153.4, 1151.6, 1149.4, 1123.4, 1101.2, 1080.5, 1072.0, 1070.2, 1069.0, 1047.5, 1026.9, 1024.7, 982.2, 940.3, 931.5, 925.2 and 904.8, based on the nearest futures contract. There is no upside resistance, and big upside objectives are readable on the charts. Gold remains above 50- and 200-day simple moving averages, which are rising bullishly.
Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to Gold bullion) rebounded above its falling 50-day simple moving average on 12/1/09. The Ratio remains above its 200-day simple moving average, which is more significant for the long term. Absolute price of GDX moved above its highs of the previous 18 months on 12/1/09.
Silver/Gold Ratio appears to be consolidating in a trading range since making a 13-month high on 9/16/09. The Ratio is below its falling 50-day simple moving average and above its rising 200-day simple moving average. A rising trend of the Silver/Gold Ratio suggests growing confidence about global economic prospects, while a falling trend suggests doubts.
Copper nearest futures contract price broke out to another new 14-month high of 3.2445 on 12/2/09, confirming bullish trends in all time frames. Rising copper prices suggest growing confidence about global economic prospects, while falling copper prices suggest doubts.
U.S. Treasury Bond nearest futures contract price jumped up to its highest level in 7 weeks on 11/27/09, reaching 123.18. That confirmed its preexisting bullish trend. The Bond remains above both its 50- and 200-day simple moving averages. The Bond found support around the previous lows of 117.10 set on 11/12/09 and 116.30 set on 8/24/09. On 8/7/09, Bonds found support at the upper end of the 112-115 zone of many previous reversal points (including both lows and highs).
Bond Quality Relative Strength Ratio (JNK/LQD) fell further below its lowest levels in 8 weeks on 11/30/09. JNK/LQD has been in a downside corrective trend since 10/26/09 and is below its falling 50-day simple moving average. This indicates weakness for the intermediate term, and movement toward risk aversion.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose to another new 13-month high on 11/9/09, again confirming a bullish long-term trend. TIP/IEF remains above rising 50- and 200-day simple moving averages. Bond investors may be growing increasingly concerned about the inflation outlook, despite assurances of tame inflation by economists.
The U.S. dollar nearest futures contract price fell below the lows of the previous 15 months on 11/25/09, again confirming the preexisting bearish major trend. USD remains below 50- and 200-day simple moving averages, which are falling bearishly.
The Art of Contrary Thinking: The various surveys of investor sentiment are best considered as background factors. The majority of investors can be right for a long time before a major trend finally changes course. So, Contrary Thinking should be used with more precise market timing tools.
Advisory Service Sentiment: There were 50.0% Bulls versus 16.7% Bears as of 12/2/09, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio was 2.99, up from 2.88 the previous week. It is the highest reading since 3.21 on 10/17/07. The ratio’s 39-year range is 0.28 to 17.51, the median is 1.43, and the mean is 1.73.
VIX Fear Index collapsed to 20.05 on 11/25/09 from a high of 31.84 on 11/2/09, indicating plunging levels of fear and bullish complacency. VIX is down from a closing high of 80.86 set on 11/20/08. 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 collapsed to 21.10 on 11/24/09 from a high of 31.42 on 11/2/09, indicating plunging levels of fear and bullish complacency. VXN is down from a closing high of 80.64 set on 11/20/08. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.
ISEE Call/Put Ratio fell to 1.00 on 12/2/09, a level indicating bearish sentiment. The ratio’s 6-year mean is 1.41, its median is 1.36, and its range is 0.51 to 3.16.
CBOE Put/Call Ratio rose to 0.54 on 12/2/09, a level indicating bullish sentiment. The ratio’s 6-year mean is 0.66, its median is 0.64, and its range is 0.35 to 1.35.
Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and a net balance of positive earnings surprises. The unfolding fallout from the credit market crisis derailed that engine. Since the stock market low on 3/9/09, massive monetary and fiscal stimulation appears to have had a Bullish impact on investor sentiment.
The Dow Theory signaled a Primary Tide Bull Market on 7/23/09 when both the Dow-Jones Industrial Average the Dow-Jones Transportation Average closed above their May-June 2009 closing price highs. This reverses the previous signal: the two Averages signaled a Primary Tide Bear Market on 11/21/07, when both Averages closed below their closing price lows of August 2007.
S&P 500 Cash Index 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
1,381.50, Fibonacci 78.6% of 2007-2009 range
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,313.15, high of 8/11/2008
1,274.42, high of 9/8/2008
1,255.09, high of 9/12/2008
1,238.81, Fibonacci 78.6% of 1,576.09 high
1,228.74, Fibonacci 61.8% of 2007-2009 range
1,220.03, high of 9/25/2008
1,158.76, EW ABC measured move target
1,121.44, Fibonacci 50.0% of 2007-2009 drop
1,115.58, high of 12/2/2009
S&P 500 Cash Index Potential Support
1,083.74, low of 11/27/2009
1,066.83, high of 10/29/2009
1,029.38, low of 11/2/2009
1,019.85, low of 10/2/2009
1,014.14, Fibonacci 38.2% of 2007-2009 drop
1,007.78, Gann 37.5% of 2007-2009 range
998.80, Fibonacci 23.6% Retrace of 2009 range
991.97, low of 9/2/2009
992.72, Gann 25% Retrace of 2009 range
978.51, low of 8/17/2009
956.50, Dow 33.3% Retrace of 2009 range
956.23, high of 6/11/2009
935.35, Fibonacci 38.2% Retrace of 2009 range
930.17, high of 5/8/2009
884.08, Fibonacci 50% of 2009 range
869.32, low of 7/8/2009
826.83, low of 4/21/2009
832.80, Fibonacci 61.8% Retrace of 2009 range
814.53, low of 4/7/2009
813.62, high of 4/1/2009
779.81, low of 3/30/2009
775.43, Gann 75% Retrace of 2009 range
759.79, Fibonacci 78.6% Retrace of 2009 range
721.11, Gann 87.5% Retrace of 2009 range
666.79, intraday low of 3/6/2009
602.07, Fibonacci 38.2% of 1,576.09 high
Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.63% Internet B2B H, BHH
1.97% Semiconductors, PSI
1.93% Metals & Mining SPDR, XME
1.70% REIT Wilshire, RWR
1.63% REIT VIPERs, VNQ
1.58% Value SmallCap Dynamic PS, PWY
1.53% Gold Shares S.T., GLD
1.51% Realty Cohen & Steers, ICF
1.51% Basic Materials DJ US, IYM
1.51% Semiconductor iS GS, IGW
1.48% Telecom DJ US, IYZ
1.48% Real Estate US DJ, IYR
1.44% Ultra MidCap400 Double, MVV
1.43% Mexico Index, EWW
1.43% Transportation Av DJ, IYT
1.38% Materials VIPERs, VAW
1.37% Nanotech Lux, PXN
1.36% Semiconductor SPDR, XSD
1.35% Utilities SPDR, XLU
1.32% Internet H, HHH
1.30% Growth SmallCap R 2000, IWO
1.30% Growth SmallCap Dynamic PS, PWT
1.25% Utilities H, UTH
1.20% Utilities VIPERs, VPU
1.20% Utilities DJ, IDU
1.19% SmallCap Russell 2000, IWM
1.14% Value S&P 500, RPV
1.13% Value SmallCap VIPERS, VBR
1.12% Value SmallCap S&P 600 B, IJS
1.11% SmallCap Core iS M, JKJ
1.11% SmallCap S&P 600, IJR
1.10% Brazil Index, EWZ
1.07% Growth Small Cap DJ, DSG
1.07% SmallCap PS Zacks, PZJ
1.05% South Korea Index, EWY
1.05% Small Cap VIPERs, VB
1.04% Telecom Services VIPERs, VOX
1.02% Utilities, PUI
1.02% Growth SmallCap VIPERs, VBK
1.00% Value Small Cap DJ, DSV
0.97% Dividend High Yield Equity PS, PEY
0.97% Extended Mkt VIPERs, VXF
0.97% Telecom H, TTH
0.97% Materials SPDR, XLB
0.96% Belgium Index, EWK
0.96% Growth BARRA Small Cap 600, IJT
0.90% Value SmallCap Russell 2000, IWN
0.88% Value SmallCap S&P 600, RZV
0.88% Latin Am 40, ILF
0.88% Telecommunications & Wireless, PTE
0.86% Micro Cap Zachs, PZI
0.86% Dividend SPDR, SDY
0.85% Growth SmallCap iS M, JKK
0.85% Dividend Leaders, FDL
0.84% United Kingdom Index, EWU
0.83% Value SmallCap iS M, JKL
0.81% Microcap Russell, IWC
0.81% Value MidCap Russell, IWS
0.79% Building & Construction, PKB
0.78% Value MidCap S&P 400 B, IJJ
0.76% Semiconductor H, SMH
0.76% MidCap S&P 400 iS, IJH
0.76% Dividend DJ Select, DVY
0.75% Biotech & Genome, PBE
0.74% Insurance, PIC
0.72% Sweden Index, EWD
0.71% Value MidCap iS M, JKI
0.71% Telecommunications Global, IXP
0.69% Austria Index, EWO
0.67% MidCap VIPERs, VO
0.66% Growth MidCap S&P 400, RFG
0.65% Biotech SPDR, XBI
0.63% MidCap S&P 400 SPDRs, MDY
0.59% Value MidCap Dynamic PS, PWP
0.59% Pharmaceuticals, PJP
0.59% Silver Trust iS, SLV
0.57% LargeCap Blend S&P=Weight R, RSP
0.56% Taiwan Index, EWT
0.56% Retail, PMR
0.56% MidCap Growth iS M, JKH
0.55% Emerging 50 BLDRS, ADRE
0.55% MidCap Blend Core iS M, JKG
0.54% Value LargeCap Euro STOXX 50 DJ, FEU
0.52% Singapore Index, EWS
0.52% Short 200% Bond 7-10 Yr T, PST
0.50% MidCap Russell, IWR
0.49% Growth MidCap 400 B, IJK
0.49% Dividend International, PID
0.48% Growth MidCap Russell, IWP
0.48% WilderHill Clean Energy PS, PBW
0.48% Consumer Non-Cyclical, IYK
0.46% Emerging VIPERs, VWO
0.44% OTC Dynamic PS, PWO
0.43% Water Resources, PHO
0.43% Preferred Stock iS, PFF
0.42% Value LargeCap Fundamental RAFI 1000, PRF
0.41% Emerging Markets, EEM
0.40% Euro STOXX 50, FEZ
0.39% Consumer D. VIPERs, VCR
0.39% Dividend Achievers PS, PFM
0.39% Asia 50 BLDRS, ADRA
0.38% France Index, EWQ
0.36% Short 200% Dow 30 PS, DXD
0.35% Ultra QQQ Double, QLD
0.34% Homebuilders SPDR, XHB
0.34% Biotech H, BBH
0.33% Healthcare Global, IXJ
0.32% Aerospace & Defense, PPA
0.32% Growth LargeCap NASDAQ Fidelity, ONEQ
0.31% Consumer Discretionary SPDR, XLY
0.31% Health Care VIPERs, VHT
0.30% Growth EAFE MSCI, EFG
0.30% Value LargeCap Dynamic PS, PWV
0.29% European VIPERs, VGK
0.29% IPOs, First Tr IPOX-100, FPX
0.29% Blend Total Market VIPERs, VTI
0.28% China LargeCap Growth G D H USX PS, PGJ
0.27% Europe 350 S&P Index, IEV
0.27% Healthcare DJ, IYH
0.25% Retail H, RTH
0.24% LargeCap Blend Dynamic PS, PWC
0.24% Growth S&P 500, RPG
0.22% Value 40 Large Low P/E FT DB, FDV
0.22% LargeCap Blend Russell 3000, IWV
0.21% Food & Beverage, PBJ
0.21% Value Line Timeliness MidCap Gr, PIV
0.20% Growth LargeCap Russell 3000, IWZ
0.20% China 25 iS, FXI
0.20% LargeCap Blend Total Market DJ, IYY
0.19% Networking, IGN
0.19% Value S&P 500 B, IVE
0.19% Hong Kong Index, EWH
0.18% Growth 1000 Russell, IWF
0.18% EMU Europe Index, EZU
0.18% LargeCap VIPERs, VV
0.17% Consumer Cyclical DJ, IYC
0.16% LargeCap Blend S&P 1500 iS, ISI
0.16% Ultra S&P500 Double, SSO
0.16% EAFE Index, EFA
0.15% Technology GS, IGM
0.15% LargeCap Blend NYSE Composite iS, NYC
0.15% LargeCap 1000 R, IWB
0.14% Short 100% Dow 30, DOG
0.14% Growth LargeCap NASDAQ 100, QQQQ
0.14% Industrials VIPERs, VIS
0.13% Software, IGV
0.12% Value LargeCap Russell 3000, IWW
0.11% S&P 500 iS LargeCap Blend, IVV
0.11% Pharmaceutical H, PPH
0.11% Bond, High-Yield Corporate, HYG
0.10% Growth Large Cap, ELG
0.09% Malaysia Index, EWM
0.09% Technology DJ US, IYW
0.09% Switzerland Index, EWL
0.09% Technology MS sT, MTK
0.08% Bond, 20+ Years Treasury, TLT
0.07% South Africa Index, EZA
0.07% Value Large Cap DJ, ELV
0.07% Financials VIPERs, VFH
0.07% Value EAFE MSCI, EFV
0.05% Value 1000 Russell, IWD
0.05% Netherlands Index, EWN
0.05% Leisure & Entertainment, PEJ
0.04% Consumer Staples VIPERs, VDC
0.04% Dividend Appreciation Vipers, VIG
0.04% Industrial LargeCap Blend DJ US, IYJ
0.04% Canada Index, EWC
0.03% Natural Resource iS GS, IGE
0.02% Value VIPERs, VTV
0.02% Bond, Corp, LQD
0.02% Growth LargeCap iS M, JKE
0.02% Global Titans, DGT
0.01% Wilshire 5000 ST TM, TMW
0.00% Info Tech VIPERs, VGT
0.00% India Earnings WTree, EPI
0.00% Financial DJ US, IYF
0.00% Europe 100 BLDRS, ADRU
-0.02% LargeCap Blend Socially Responsible iS, KLD
-0.03% Global 100, IOO
-0.04% Value LargeCap iS M, JKF
-0.04% S&P 500 SPDRs LargeCap Blend, SPY
-0.05% LargeCap Blend Core iS M, JKD
-0.05% Short 200% S&P 500 PS, SDS
-0.06% Growth Mid Cap Dynamic PS, PWJ
-0.06% Growth VIPERs, VUG
-0.07% Financial SPDR, XLF
-0.07% Lg Cap Growth PSD, PWB
-0.08% Bond, 1-3 Year Treasury, SHY
-0.08% Australia Index, EWA
-0.09% Bank Regional H, RKH
-0.09% Developed 100 BLDRS, ADRD
-0.09% Short 100% S&P 500, SH
-0.10% Bond, TIPS, TIP
-0.10% Growth S&P 500/BARRA, IVW
-0.11% Value LargeCap NYSE 100 iS, NY
-0.11% Consumer Staples SPDR, XLP
-0.11% Pacific VIPERs, VPL
-0.12% Pacific ex-Japan, EPP
-0.13% Germany Index, EWG
-0.14% Technology SPDR, XLK
-0.14% DIAMONDS (DJIA), DIA
-0.15% Italy Index, EWI
-0.19% Bond, Aggregate, AGG
-0.19% Capital Markets KWB ST, KCE
-0.19% Financial Preferred, PGF
-0.20% Short 100% QQQ, PSQ
-0.21% Bond, 10 Year Treasury, IEF
-0.22% Health Care SPDR, XLV
-0.23% LargeCap Blend S&P 100, OEF
-0.25% LargeCap Rydex Rus Top 50, XLG
-0.27% Software, PSJ
-0.27% Financials Global LargeCap Value, IXG
-0.29% Industrial SPDR, XLI
-0.29% Short 200% QQQ PS, QID
-0.29% Financial Services DJ, IYG
-0.32% Ultra Dow30 Double, DDM
-0.35% Japan LargeCap Blend TOPIX 150, ITF
-0.36% Oil & Gas, PXJ
-0.40% Japan Index, EWJ
-0.46% Technology Global, IXN
-0.48% Spain Index, EWP
-0.49% Short 200% US T Bond, TBT
-0.53% Energy DJ, IYE
-0.54% Energy Global, IXC
-0.59% Energy SPDR, XLE
-0.65% Energy VIPERs, VDE
-0.66% Software H, SWH
-0.68% Commodity Tracking, DBC
-0.77% Short 100% MidCap 400, MYY
-0.79% Internet Infrastructure H, IIH
-0.81% Energy Exploration & Prod, PXE
-1.03% Oil Services H, OIH
-1.25% Internet Architecture H, IAH
-1.46% Short 200% MidCap 400 PS, MZZ
-1.97% Oil, Crude, U.S. Oil Fund, USO
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