by Robert W. Colby, Senior Analyst TraderPlanet.com
Stock Market: minor corrections.
Materials Stock Sector absolute price and XLB/SPY Relative Strength Ratio both fell to new 9-week lows, thereby suggesting an intermediate-term downside correction.
Foreign stock index EFA Relative Strength Ratio fell to its lowest level in 3 months.
Health Care Stock Sector XLV/SPY Relative Strength Ratio moved up to a new 4- month high.
On Tuesday, major stock price indexes traded choppy until 2 p.m., when a rally carried stocks above the highs of the previous 2 trading days. Prices closed strong, very near the high of day’s High-Low range. Total NYSE volume rose 15% to confirm the price upturn.
The S&P 500 closed at 1,273.70, up 21.39 points or 1.71%. This after falling to its lowest level in more than 23 months the day before.
The breadth of the market improved—for a change. The Advance-Decline balance ((A-D) / (A+D)) was +33.86%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -94.08% on the NYSE. On On 7/7/08, the Cumulative Daily Advance-Decline Line for the NYSE fell to a new 18-month low, while the A-D Line for the NASDAQ fell to a new multi-year low, so larger trends are down.
The S&P 500 has fallen 10.72% since its rally high close of 1,426.63 on 5/19/08. Consistently, I have been assuming that the U.S. stock market is in a Bearish Primary Trend, which was clearly signaled here on 11/21/07, when both the Dow-Jones Industrial and Transportation Averages closed below their respective closing price lows of August, 2007. The Primary Trend is the dominant force, and it tends to overwhelm smaller trends and cycles. Nevertheless, even while emphasizing the Primary Trend,traders may want to keep in mind that stocks do not move in a straight line for very long, and shorter-term trends can change violently and rapidly.
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
52.52% , ABK , AMBAC FINL GRP
4.23% , XBI , Biotech SPDR, XBI
3.89% , RFV , Value MidCap S&P 400, RFV
2.23% , JKK , Growth SmallCap iS M, JKK
16.76% , WM , WASHINGTON MUT
0.43% , MTK , Technology MS sT, MTK
21.74% , MBI , MBIA
2.71% , DSV , Value Small Cap DJ, DSV
1.73% , DSG , Growth Small Cap DJ, DSG
29.31% , MTG , MGIC INVESTMENT
7.46% , VNQ , REIT VIPERs, VNQ
3.81% , SDY , Dividend SPDR, SDY
5.87% , ABT , ABBOTT LABS
2.35% , JKG , MidCap Blend Core iS M, JKG
5.62% , GENZ , GENZYME GEN
5.01% , MVV , Ultra MidCap400 Double, MVV
6.91% , BIIB , BIOGEN IDEC
5.01% , IYT , Transportation Av DJ, IYT
2.17% , PWV , Value LargeCap Dynamic PS, PWV
4.15% , JKL , Value SmallCap iS M, JKL
3.37% , PBE , Biotech & Genome, PBE
6.32% , IYG , Financial Services DJ, IYG
3.79% , IBB , Biotechnology, IBB
5.16% , RAI , RJR TOBACCO HLDS
15.21% , LEN , Lennar Corp. (LEN)
3.37% , PZJ , SmallCap PS Zacks, PZJ
8.35% , MMC , MARSH & MCLENNAN
1.20% , NY , Value LargeCap NYSE 100 iS, NY
4.88% , NCR , NCR
12.61% , FITB , FIFTH THIRD BANC
6.46% , COL , ROCKWELL COLLINS
5.12% , FRX , FOREST LABS STK A
3.05% , PHO , Water Resources, PHO
4.31% , FDL , Dividend Leaders, FDL
3.67% , IWC , Microcap Russell, IWC
9.62% , F , FORD MOTOR
8.81% , EQR ,EQUITY RESIDENT BEN INT
9.39% , AIV , APT INV MNGMT
0.94% , ADRD , Developed 100 BLDRS, ADRD
2.98% , VHT , Health Care VIPERs, VHT
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-31.60% , ODP , OFFICE DEPOT
-11.56% , EMC , EMC
-11.93% , OMX , OFFICEMAX INC., OMX
-4.14% , GLW , CORNING
-4.40% , STLD , Steel Dynamics, STLD
-2.55% , SPLS , STAPLES
-4.10% , DE , DEERE & CO
-3.92% , NE , NOBLE
-3.68% , APA , APACHE
-2.72% , PBG , PEPSI BOTTLING
-2.19% , MYY , Short 100% MidCap 400, MYY
-2.58% , PTEN , Patterson-UTI Energy Inc
-1.99% , XME , Metals & Mining SPDR, XME
-3.34% , SLB , SCHLUMBERGER
-3.63% , DBC , Commodity Tracking, DBC
-2.02% , PXJ , Oil & Gas, PXJ
-2.13% , BHI , BAKER HUGHES
-2.85% , NOV , NATIONAL OILWELL VARC0
-0.82% , PHW , Hardware & Electronics, PHW
-2.11% , ETFC.O , E*TRADE
-4.75% , MZZ , Short 200% MidCap 400 PS, MZZ
-1.40% , PEG , PUBL SVC ENTER
-1.93% , MRO , MARATHON OIL
-1.59% , SANM , SANMINA
-4.38% , USO , Oil, Crude, U.S. Oil Fund, USO
-1.55% , IGE , Natural Resource iS GS, IGE
-1.85% , MDP , MEREDITH
-4.00% , FCX , FREEPRT MCMORAN STK B
-0.47% , CCE , COCA COLA ENTER
-0.39% , DGT , Global Titans, DGT
-3.31% , FLR , FLUOR
-2.24% , OXY , OCCIDENTAL
-2.17% , QLGC , QLOGIC
-1.82% , HMA , HEALTH MGMT STK A
-0.77% , EIX , EDISON INTL
-0.86% , ETR , ENTERGY
-1.45% , DOG , Short 100% Dow 30, DOG
-3.18% , HAL , HALLIBURTON
-1.69% , WMB , WILLIAMS
-2.48% , DVN , DEVON ENERGY
Sectors: among the 9 major U.S. sectors, 7 rose and 2 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
6.48% Financial SPDR, XLF
2.64% Health Care SPDR, XLV
2.60% Consumer Discretionary SPDR, XLY
2.31% Industrial SPDR, XLI
1.30% Consumer Staples SPDR, XLP
1.02% Technology SPDR, XLK
0.53% Utilities SPDR, XLU
-1.06% Materials SPDR, XLB
-1.66% 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 7/1/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.
Utilities (XLU) Neutral, Market Weight. On 7/2/08, XLU/SPY Relative Strength Ratio rose to a new all-time high, again confirming a major uptrend. Since 10/17/02, the XLU/SPY Relative Strength Ratio has outperformed substantially.
Consumer Staples (XLP) Neutral, Market Weight. On 7/7/08, XLP /SPY Relative Strength Ratio rose to a new 5-year high. For nearly 8 years, since 9/27/00, the XLP/SPY Relative Strength Ratio has outperformed, so the long-term trend is up.
Materials (XLB) Neutral, Market Weight. On 6/23/08, XLB/SPY Relative Strength Ratio rose to another new all-time high, thereby confirming a major uptrend. But on 7/8/08, absolute price and XLB/SPY Relative Strength Ratio both fell to new 9-week lows, thereby suggesting an intermediate-term downside correction.
Health Care (XLV) Bearish, Underweight. On 7/8/08, the XLV/SPY Relative Strength Ratio moved up to a new 4- month high. But on 6/20/08, the XLV absolute price fell to its lowest level in nearly 2 years, since 7/18/06. 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.
Technology (XLK) Bearish, Underweight. On 7/3/08, the XLK absolute price and the XLK/SPY Relative Strength Ratio both fell to their lowest levels in 6 weeks, thereby signaling a deteriorating intermediate-term trend. The XLK/SPY Relative Strength Ratio has been deteriorating since 6/6/08.
Industrial (XLI) Bearish, Underweight. On 7/2/08, both the XLI absolute price and the XLI/SPY Relative Strength Ratio fell to their lowest levels in more than 5 months, again confirming a Bearish trend.
Consumer Discretionary (XLY) Bearish, Underweight. On 7/1/08, the XLY absolute price and the XLY/SPY Relative Strength Ratio both fell to their lowest levels in more than 5 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.
Financial (XLF) Bearish, Underweight. On 7/7/08, the XLF/SPY Relative Strength Ratio fell to its lowest level in 8 years, and the XLF absolute price fell to its lowest level in more than 5 years. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.
Foreign stock index EFA Relative Strength Ratio fell to its lowest level in 3 months on 7/8/08. Absolute price fell to its lowest levels in more than 5 months on 7/2/08. Since 5/23/08, EFA has underperformed the U.S. stock market. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.
NASDAQ Composite Relative Strength Ratio and absolute price both fell to their lowest levels in 6 weeks on 7/3/08, thereby signaling a deteriorating intermediate-term trend. NASDAQ Composite has underperformed the S&P 500 since 6/19/08.
Growth Stock/Value Stock Relative Strength Ratio rose to a new 3-year high on 7/7/08. This ratio (IWF/IWD) has been in an uptrend since 8/8/06.
The Small Cap/Large Cap Relative Strength Ratio has fallen significantly since its peak on 6/20/08. The minor Ripple Trend (at least) has turned away from Small Caps and toward Large Caps.
Crude Oil August futures contract fell 5.33 to 136.04. This appears to be nothing more than a minor short-term price pullback. Trends remain 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 fell again. This correction appears to be nothing more than a minor short-term price pullback. Trends remain Bullish in longer time frames.
U.S.Treasury BondSeptember futures contract moved up to a new 3-month closing price high.
iShares Lehman TIPS Bond ETF (TIP) Strength Ratio Relative to iShares Lehman 7-10 Year Treasury ETF (IEF) broke out to a new 18-month high on 7/3/08.
iShares iBoxx $Investment Grade Corporate Bond ETF (LQD) absolute price broke down to another new 5-year low on 7/3/08.
The U.S. dollar turned upward. The short-term trend appears treacherous. Intermediate term, the dollar has been in a choppy sideways trading range since its low on 3/17/08. Long-term, the 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 31.9 % Bulls versus 44.7% Bears as of 7/2/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 0.71, down from 0.86 the previous week. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47.
VIX “Fear Index”, now at 23.15, indicates rising fear since 5/15/08. 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”, now at 28.43, shows rising fear since 5/16/08. Previously, 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 0.73, which indicates only slightly Bearish sentiment. Its 4-year mean and median are 0.62, and its 4-year range is 0.35 to 1.28.
ISEE Call/Put Ratio is 3.16, which indicates record Bullish sentiment. The ratio’s 4-year mean is 1.50, 4-year median is 1.47, and 4-year range is 0.51 to 3.16.
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 subprimecredit market crisis has derailed that engine. Economic statistics and corporate earnings have weakened. Rising commodity prices push up inflation.
A new intermediate-term down wave was signaled on 6/11/08, when the Dow-Jones Industrials and Transports both closed at new 7-week lows. 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 (1,273.70):
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 (1,273.70):
Potential Support
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:
% Price Change, ETF Name, Symbol
7.62% Realty Cohen & Steers, ICF
7.46% REIT VIPERs, VNQ
7.24% Real Estate US DJ, IYR
7.04% REIT Wilshire, RWR
6.95% Homebuilders SPDR, XHB
6.76% Bank Regional H, RKH
6.48% Financial SPDR, XLF
6.32% Financial Services DJ, IYG
5.92% Financials VIPERs, VFH
5.88% Financial DJ US, IYF
5.60% Dividend High Yield Equity PS, PEY
5.01% Transportation Av DJ, IYT
5.01% Ultra MidCap400 Double, MVV
4.59% Capital Markets KWB ST, KCE
4.50% Value SmallCap S&P 600, RZV
4.47% Value SmallCap Russell 2000, IWN
4.31% Dividend Leaders, FDL
4.23% Biotech SPDR, XBI
4.15% Value SmallCap iS M, JKL
4.08% Micro Cap Zachs, PZI
3.93% Dividend DJ Select, DVY
3.89% Value MidCap S&P 400, RFV
3.84% Value SmallCap VIPERS, VBR
3.81% Dividend SPDR, SDY
3.79% Biotechnology, IBB
3.78% Value SmallCap S&P 600 B, IJS
3.67% Value S&P 500, RPV
3.67% Microcap Russell, IWC
3.64% Ultra S&P500 Double, SSO
3.62% SmallCap Russell 2000, IWM
3.54% Ultra QQQ Double, QLD
3.51% Value SmallCap Dynamic PS, PWY
3.45% Nanotech Lux, PXN
3.43% Growth SmallCap R 2000, IWO
3.39% Networking, PXQ
3.37% SmallCap PS Zacks, PZJ
3.37% Biotech & Genome, PBE
3.23% Pharmaceuticals, PJP
3.23% SmallCap S&P 600, IJR
3.12% Pharmaceutical H, PPH
3.07% Ultra Dow30 Double, DDM
3.05% Water Resources, PHO
3.02% Healthcare Global, IXJ
3.01% Biotech H, BBH
3.01% Leisure & Entertainment, PEJ
2.98% Health Care VIPERs, VHT
2.94% Extended Mkt VIPERs, VXF
2.91% Small Cap VIPERs, VB
2.90% Value MidCap S&P 400 B, IJJ
2.88% Value S&P 500 B, IVE
2.84% Telecom Services VIPERs, VOX
2.80% Value MidCap Russell, IWS
2.71% Value Small Cap DJ, DSV
2.70% Healthcare DJ, IYH
2.64% Health Care SPDR, XLV
2.60% Consumer Discretionary SPDR, XLY
2.58% Consumer D. VIPERs, VCR
2.56% Telecom DJ US, IYZ
2.56% Value MidCap iS M, JKI
2.54% WilderHill Clean Energy PS, PBW
2.53% Retail H, RTH
2.51% Broadband H, BDH
2.49% SmallCap Core iS M, JKJ
2.49% Growth BARRA Small Cap 600, IJT
2.47% Value LargeCap Fundamental RAFI 1000, PRF
2.46% Value 1000 Russell, IWD
2.45% Value VIPERs, VTV
2.45% LargeCap Blend S&P=Weight R, RSP
2.42% Retail, PMR
2.40% Dividend Growth PS, PHJ
2.40% Industrials VIPERs, VIS
2.39% Value LargeCap Russell 3000, IWW
2.39% Growth LargeCap NASDAQ Fidelity, ONEQ
2.38% Growth LargeCap NASDAQ 100, QQQQ
2.36% Consumer Cyclical DJ, IYC
2.35% Software, PSJ
2.35% MidCap S&P 400 SPDRs, MDY
2.35% MidCap Blend Core iS M, JKG
2.35% Insurance, PIC
2.34% Food & Beverage, PBJ
2.32% Value MidCap Dynamic PS, PWP
2.31% MidCap S&P 400 iS, IJH
2.31% Industrial SPDR, XLI
2.30% Growth SmallCap Dynamic PS, PWT
2.30% South Africa Index, EZA
2.29% Internet H, HHH
2.24% Telecommunications & Wireless, PTE
2.23% Industrial LargeCap Blend DJ US, IYJ
2.23% Growth SmallCap iS M, JKK
2.17% Value LargeCap Dynamic PS, PWV
2.13% Value LargeCap iS M, JKF
2.12% Aerospace & Defense, PPA
2.11% Networking, IGN
2.06% MidCap Russell, IWR
1.99% IPOs, First Tr IPOX-100, FPX
1.98% Growth SmallCap VIPERs, VBK
1.98% LargeCap 1000 R, IWB
1.95% MidCap VIPERs, VO
1.92% China 25 iS, FXI
1.92% Internet B2B H, BHH
1.91% Telecommunications Global, IXP
1.88% LargeCap Rydex Rus Top 50, XLG
1.86% LargeCap Blend Russell 3000, IWV
1.84% Blend Total Market VIPERs, VTI
1.83% LargeCap Blend S&P 1500 iS, ISI
1.80% Wilshire 5000 ST TM, TMW
1.79% Consumer Non-Cyclical, IYK
1.78% S&P 500 SPDRs LargeCap Blend, SPY
1.76% S&P 500 iS LargeCap Blend, IVV
1.75% LargeCap Blend Total Market DJ, IYY
1.73% Growth Small Cap DJ, DSG
1.67% Mexico Index, EWW
1.66% LargeCap VIPERs, VV
1.65% Growth MidCap 400 B, IJK
1.61% LargeCap Blend S&P 100, OEF
1.59% China LargeCap Growth G D H USX PS, PGJ
1.58% Lg Cap Growth PSD, PWB
1.55% OTC Dynamic PS, PWO
1.55% Dividend International, PID
1.49% Software, IGV
1.48% Consumer Staples VIPERs, VDC
1.48% Growth MidCap Russell, IWP
1.45% LargeCap Blend Core iS M, JKD
1.43% Growth MidCap S&P 400, RFG
1.42% Dividend Appreciation Vipers, VIG
1.39% LargeCap Blend NYSE Composite iS, NYC
1.37% LargeCap Blend Socially Responsible iS, KLD
1.36% DIAMONDS (DJIA), DIA
1.35% Growth LargeCap Russell 3000, IWZ
1.35% Building & Construction, PKB
1.35% Technology GS, IGM
1.34% Growth 1000 Russell, IWF
1.30% Consumer Staples SPDR, XLP
1.29% Growth Mid Cap Dynamic PS, PWJ
1.29% Financials Global LargeCap Value, IXG
1.29% LargeCap Blend Dynamic PS, PWC
1.27% Hong Kong Index, EWH
1.26% United Kingdom Index, EWU
1.25% Spain Index, EWP
1.23% Global 100, IOO
1.23% Emerging Markets, EEM
1.20% Value LargeCap NYSE 100 iS, NY
1.18% Value Large Cap DJ, ELV
1.14% Singapore Index, EWS
1.13% Growth VIPERs, VUG
1.12% Malaysia Index, EWM
1.11% MidCap Growth iS M, JKH
1.09% Growth S&P 500, RPG
1.08% Technology Global, IXN
1.02% Technology SPDR, XLK
1.02% Info Tech VIPERs, VGT
0.99% European VIPERs, VGK
0.99% Growth S&P 500/BARRA, IVW
0.98% Europe 100 BLDRS, ADRU
0.97% Euro STOXX 50, FEZ
0.94% Developed 100 BLDRS, ADRD
0.91% Europe 350 S&P Index, IEV
0.91% Growth LargeCap iS M, JKE
0.89% Value LargeCap Euro STOXX 50 DJ, FEU
0.87% Semiconductor H, SMH
0.86% Technology DJ US, IYW
0.86% Growth Large Cap, ELG
0.82% Emerging VIPERs, VWO
0.81% Value Line Timeliness MidCap Gr, PIV
0.75% EMU Europe Index, EZU
0.74% France Index, EWQ
0.70% Pacific ex-Japan, EPP
0.70% Telecom H, TTH
0.66% South Korea Index, EWY
0.66% Netherlands Index, EWN
0.65% Switzerland Index, EWL
0.65% Bond, 20+ Years Treasury, TLT
0.59% Australia Index, EWA
0.59% Value EAFE MSCI, EFV
0.58% Semiconductor iS GS, IGW
0.56% Growth EAFE MSCI, EFG
0.54% Bond, Corp, LQD
0.53% Utilities SPDR, XLU
0.52% EAFE Index, EFA
0.46% Semiconductors, PSI
0.43% Technology MS sT, MTK
0.39% Bond, Aggregate, AGG
0.38% Canada Index, EWC
0.36% Silver Trust iS, SLV
0.35% Utilities VIPERs, VPU
0.31% Germany Index, EWG
0.30% Italy Index, EWI
0.30% Austria Index, EWO
0.28% Belgium Index, EWK
0.27% Dividend Achievers PS, PFM
0.25% Bond, 10 Year Treasury, IEF
0.17% Utilities H, UTH
0.13% Software H, SWH
0.10% Utilities DJ, IDU
0.06% Materials VIPERs, VAW
0.01% Bond, 1-3 Year Treasury, SHY
-0.01% Utilities, PUI
-0.05% Value 40 Large Low P/E FT DB, FDV
-0.06% Emerging 50 BLDRS, ADRE
-0.07% Bond, TIPS, TIP
-0.08% Sweden Index, EWD
-0.11% Latin Am 40, ILF
-0.11% Brazil Index, EWZ
-0.11% Pacific VIPERs, VPL
-0.37% Semiconductor SPDR, XSD
-0.39% Global Titans, DGT
-0.40% Internet Architecture H, IAH
-0.41% Gold Shares S.T., GLD
-0.41% Japan Index, EWJ
-0.43% Asia 50 BLDRS, ADRA
-0.51% Japan LargeCap Blend TOPIX 150, ITF
-0.55% Internet Infrastructure H, IIH
-0.82% Hardware & Electronics, PHW
-0.95% Taiwan Index, EWT
-0.95% Basic Materials DJ US, IYM
-1.06% Materials SPDR, XLB
-1.17% Oil Services H, OIH
-1.45% Short 100% Dow 30, DOG
-1.53% Energy DJ, IYE
-1.55% Natural Resource iS GS, IGE
-1.55% Energy Global, IXC
-1.66% Energy SPDR, XLE
-1.75% Energy VIPERs, VDE
-1.85% Short 100% S&P 500, SH
-1.88% Energy Exploration & Prod, PXE
-1.99% Metals & Mining SPDR, XME
-2.02% Short 100% QQQ, PSQ
-2.02% Oil & Gas, PXJ
-2.19% Short 100% MidCap 400, MYY
-3.14% Short 200% Dow 30 PS, DXD
-3.63% Commodity Tracking, DBC
-3.72% Short 200% S&P 500 PS, SDS
-3.74% Short 200% QQQ PS, QID
-4.38% Oil, Crude, U.S. Oil Fund, USO
-4.75% Short 200% MidCap 400 PS, MZZ
