Daily Stock Market Commentary – 7/24/2008

Stock Market: inter-market analysis proves its value as the oil price drop cuts both ways in the markets.

The S&P 500 closed above the highest highs of the previous 13 trading days and already has retraced a normal 38.2% Fibonacci ratio of its steep May-July drop.

The Small Cap/Large Cap Relative Strength Ratio rose to another new 15-month high.

Energy Stock Sector XLE absolute price and XLE/SPY Relative Strength Ratio both broke down to new 11-week lows.

Utilities Stock Sector XLU absolute price and XLU/SPY Relative Strength Ratio both broke down to new 7-week lows.

Growth Stock/Value Stock Relative Strength Ratio fell steeply to a new 7-week low.

CRB index of commodity prices absolute price broke down to a new 11-week low.

Crude Oil fell below the lows of the previous 6 weeks.

Gold fell below the lows of the previous 9 days.

U.S. Treasury Bond price fell below the lows of the previous 4 weeks.

iShares Lehman TIPS Bond ETF (TIP) Strength Ratio Relative to iShares Lehman 7-10 Year Treasury ETF (IEF) broke down below its March-July uptrend line.

On Wednesday, majorstock priceindexes opened higher and rose further to a high at 10:39 a.m. Stocks retreated over the following 2 hours, still holding on to positive territory, then turned choppy and sideways for the balance of the session. The S&P 500 Index ETF (SPY) closed above the highest highs of the previous 13 trading days and ended the session above the previous close, above the open, but somewhat below the midpoint of the High-Low range for the day. The S&P 500 cash index closed at 1,282.19, up 5.19 points or 0.41%. Total NYSE volume rose 4%, suggesting relatively steady demand for stocks.

The breadth of the market was less Bullish, but still Bullish. The Advance-Decline balance ((A-D) / (A+D)) was 24.73%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was 34.08%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -31.65% on the NYSE. The number of New Lows has exceeded the number of New Highs most days for more than a year, since July 2007, and that is one sign of a Bear Market. On 7/15/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends remain Bearish.

The S&P 500 Index ETF (SPY) has retraced a normal 38.2% Fibonacci ratio of its steep May-July drop already, and so this could be a likely spot to encounter resistance. The upside stock price action of the past 6 trading days may be simply a temporary, minor, counter-trend, short-covering reaction against the larger major downtrend. It appears to be motivated by the recent downturn in the price of oil, so it might pay to keep a close eye on oil. Inter-market analysis is worthwhile, and that is why I follow all the major world markets.

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
1.50% , TMW , Wilshire 5000 ST TM, TMW
3.57% , PEJ , Leisure & Entertainment, PEJ
0.14% , FDV , Value 40 Large Low P/E FT DB, FDV
4.27% , RFV , Value MidCap S&P 400, RFV
3.91% , RPV , Value S&P 500, RPV
1.97% , DGT , Global Titans, DGT
12.61% , SIRI , Sirius Satellite
13.72% , EMC , EMC
12.53% , WHR , WHIRLPOOL
10.33% , XMSR , XM Satellite R
10.70% , NIHD , NII Holdings, Inc.
6.97% , GD , GENERAL DYNAMICS
14.70% , FHN , FIRST TENNESSEE
1.93% , PSJ , Software, PSJ
3.24% , TTH , Telecom H, TTH
5.44% , HSY , HERSHEY FOODS
6.71% , PTV , PACTIV
12.75% , AET , AETNA
9.48% , LM , LEGG MASON
8.18% , CAR , Avis Budget Group, Inc. (CAR)
5.87% , LIZ , LIZ CLAIRBORNE
5.38% , DHI , D.R. HORTON, DHI
18.09% , XL , XL CAPITAL STK A
7.54% , DDS , DILLARD STK A
9.07% , WLP , WELLPOINT HEALTH
2.92% , TBH , Telebras HOLDRS, TBH*
4.22% , ABK , AMBAC FINL GRP
4.96% , DRI , DARDEN REST
7.32% , GCI , GANNETT
5.11% , HGSI , Human Genome Sciences Inc
16.40% , MBI , MBIA
13.74% , LVLT , LEVEL 3 COMMUNICATIONS
1.84% , EWS , Singapore Index, EWS
4.26% , BMS , BEMIS
8.44% , WFMI , Whole Foods Market Inc
2.48% , PIC , Insurance, PIC
1.73% , PXN , Nanotech Lux, PXN
5.42% , LAMR , Lamar Advertising Company
4.01% , SNV , SYNOVUS
3.26% , IYZ , Telecom DJ US, IYZ

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-11.90% , COST , COSTCO WHOLESAL
-15.64% , CHRW.O , CH Robinson Worldwide Inc, CHRWD
-6.87% , ZMH , ZIMMER HLDGS
-15.80% , ETFC.O , E*TRADE
-7.12% , BHH , Internet B2B H, BHH
-9.66% , CVG , CONVERGYS
-3.97% , PXJ , Oil & Gas, PXJ
-2.53% , UTH , Utilities H, UTH
-4.79% , PXE , Energy Exploration & Prod, PXE
-20.10% , WM , WASHINGTON MUT
-1.36% , PUI , Utilities, PUI
-10.00% , R , RYDER SYSTEM
-4.97% , DYN , DYNEGY
-6.21% , OXY , OCCIDENTAL
-5.17% , RFMD , RF Micro Devices Inc
-2.30% , PIV , Value Line Timeliness MidCap Gr, PIV
-6.12% , RIG , TRANSOCEAN
-4.69% , NOV , NATIONAL OILWELL VARC0
-4.48% , FE , FIRSTENERGY
-3.67% , BA , BOEING
-4.72% , YHOO , YAHOO
-2.03% , XEL , XCEL ENERGY
-2.63% , IAU , Gold COMEX iS, IAU
-2.86% , TJX , TJX
-2.26% , DBC ,Commodity Tracking, DBC
-5.67% , HES , AMERADA HESS
-4.06% , ATI , ALLEGHENY TECH
-1.15% , XBI , Biotech SPDR, XBI
-8.85% , UIS , UNISYS
-3.20% , SLV , Silver Trust iS, SLV
-2.43% , XLU , Utilities SPDR, XLU
-4.36% , EP , EL PASO
-3.41% , SLB , SCHLUMBERGER
-2.10% , NI , NISOURCE
-3.29% , PEG , PUBL SVC ENTER
-1.26% , CTXS , CITRIX SYSTEMS
-4.13% , LLTC , LINEAR TECH
-2.68% , GLD , Gold Shares S.T., GLD
-1.13% , IIH , Internet Infrastructure H, IIH
-5.16% , PTEN , Patterson-UTI Energy Inc

Sectors: among the 9 major U.S. sectors, 5 rose and 4 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
1.93% Consumer Discretionary SPDR, XLY
1.80% Technology SPDR, XLK
0.78% Industrial SPDR, XLI
0.70% Consumer Staples SPDR, XLP
0.44% Health Care SPDR, XLV
-0.13% Financial SPDR, XLF
-1.26% Materials SPDR, XLB
-2.43% Utilities SPDR, XLU
-3.63% 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):

Consumer Staples (XLP) Neutral, Market Weight. On 7/15/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up.

Materials (XLB) Neutral, Market Weight. On 5/20/08, XLB absolute price and XLB/SPY Relative Strength Ratio both closed at new all-time highs, 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) Neutral, Market Weight. On 7/15/08, the XLV/SPY Relative Strength Ratio moved up to a new 5-month high.

Energy (XLE) Neutral, Market Weight. On 7/23/08, XLE absolute price and XLE/SPY Relative Strength Ratio both broke down to new 11-week lows, confirming a short-term correction. On 7/1/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a long-term, Primary Tide Uptrend.

Utilities (XLU) Neutral, Market Weight. On 7/23/08, XLU absolute price and XLU/SPY Relative Strength Ratio both broke down to new 7-week lows, confirming a short-term correction. On 7/15/08, XLU/SPY Relative Strength Ratio rose to a new all-time high, a confirming a long-term, Primary Tide Uptrend.

Industrial (XLI) Bearish, Underweight. On 7/2/08, XLI/SPY Relative Strength Ratio fell to its lowest levels in 25 weeks, again confirming a Bearish trend.

Technology (XLK) Bearish, Underweight. On 7/22/08, XLK/SPY Relative Strength Ratio fell to its lowest levels in 12 weeks, again confirming a Bearish trend. 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.

Consumer Discretionary (XLY) Bearish, Underweight. On 7/15/08, XLY absolute price fell to its lowest level in 5 years. On 7/11/08, the XLY/SPY Relative Strength Ratio fell to its lowest levels in 6 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.

Financial (XLF) Bearish, Underweight. On 7/15/08, the XLF absolute price and the XLF/SPY Relative Strength Ratio both fell to their lowest level in 8 years, again confirming a Bearish Primary Tide Trend. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.

Foreign stock index EFA absolute price fell to its lowest level in 24 months on 7/15/08. Relative Strength Ratio fell to its lowest level in 3 months on 7/8/08 but has firmed somewhat since. 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 broke out to a new 8-month high on 7/17/08 but turned down since. Absolute price tested and held its low of 3/17/08.

Growth Stock/Value Stock Relative Strength Ratio fell steeply to a new 7-week low on 7/23/08, confirming a short-term downward correction. This ratio (IWF/IWD) has been in an uptrend since 8/8/06, and it rose to a new 4-year high on 7/15/08.

The Small Cap/Large Cap Relative Strength Ratio made another new 15-month high. The main trend appears to be improving.

Crude Oil August futures contract fell more steeply, down 3.98 to 124.44. Oil fell below the lows of the previous 6 weeks, confirming a short-term correction phase. The short-term trend appears corrective, while the long-term trend remains Bullish. 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 more steeply, down 25.70 to 922.80. Gold fell below the lows of the previous 9 days, confirming a short-term correction phase. On 7/15/08, Gold rose to a new 4-month high, confirming that the intermediate-term Secondary Wave and the long-term Primary Tide Trend for Gold remain Bullish.

U.S. Treasury Bond September futures contract fell below the lows of the previous 4 weeks, confirming a short-term correction. Bonds have been in a short-term downtrend since 7/15/08, in an intermediate-term uptrend since 6/13/08, and in a neutral sideways trend long-term since June 2003.

iShares Lehman TIPS Bond ETF (TIP) Strength Ratio Relative to iShares Lehman 7-10 Year Treasury ETF (IEF) broke down below its March-July uptrend line.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) absolute price broke down to another new 5-year low on 7/18/08.

The U.S. dollar broke out above the highs of the previous 8 trading days. On 7/15/08, the dollar fell to its lowest price in 12-weeks. Although the short-term trend has improved, the most relevant trends still appear Bearish.

The Art of Contrary Thinking: Traders need to be extremely nimble to keep up with rapid changes in the mass mood. The business and financial news has flipped from fear to hope and back again this year, creating higher levels of volatility. Investors might be wise to focus on risk control.

Sentiment/Contrary Opinion: There were 29.2% Bulls versus 49.4% Bears as of 7/23/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio rose to 0.59, up from 0.57 the previous week. That 0.57 was the lowest level of the ratio since 1994. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47. Sentiment indicators are often early, and so should not be used on a stand-alone basis for market timing.

VIX Fear Index, now at 21.31, indicates falling Fear since the peak at 28.48 on 7/14/08. Previously, 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 27.44, indicates falling Fear since the peak at 33.20 on 7/14/08. 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 0.63, which indicates Neutral 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 1.22, which indicates moderately Bearish 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 (1,282.19):

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
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,292.17, high of 7/2/2008

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 (1,282.19):

Potential Support
1,200.44, low of 7/15/2008
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

4.88% Homebuilders SPDR, XHB
4.27% Value MidCap S&P 400, RFV
3.91% Value S&P 500, RPV
3.57% Leisure & Entertainment, PEJ
3.26% Telecom DJ US, IYZ
3.24% Telecom H, TTH
3.05% Malaysia Index, EWM
3.00% Hardware & Electronics, PHW
2.96% Telecom Services VIPERs, VOX
2.95% South Korea Index, EWY
2.94% Taiwan Index, EWT
2.86% REIT Wilshire, RWR
2.82% REIT VIPERs, VNQ
2.80% Dividend High Yield Equity PS, PEY
2.60% Realty Cohen & Steers, ICF
2.51% Value MidCap iS M, JKI
2.48% Insurance, PIC
2.48% Value SmallCap S&P 600, RZV
2.36% Dividend Growth PS, PHJ
2.29% Ultra QQQ Double, QLD
2.28% Financial DJ US, IYF
2.25% Internet Architecture H, IAH
2.14% Telecommunications & Wireless, PTE
2.13% Real Estate US DJ, IYR
2.12% Consumer D. VIPERs, VCR
2.09% Financials VIPERs, VFH
2.03% Financials Global LargeCap Value, IXG
1.97% Global Titans, DGT
1.93% Consumer Discretionary SPDR, XLY
1.93% Software, PSJ
1.84% Singapore Index, EWS
1.80% Technology SPDR, XLK
1.78% Dividend Leaders, FDL
1.73% Nanotech Lux, PXN
1.55% Technology Global, IXN
1.50% Wilshire 5000 ST TM, TMW
1.41% Hong Kong Index, EWH
1.40% Aerospace & Defense, PPA
1.36% Technology GS, IGM
1.35% Info Tech VIPERs, VGT
1.35% Semiconductor SPDR, XSD
1.34% Consumer Non-Cyclical, IYK
1.32% Technology DJ US, IYW
1.32% Water Resources, PHO
1.32% Growth LargeCap NASDAQ 100, QQQQ
1.32% Building & Construction, PKB
1.31% China LargeCap Growth G D H USX PS, PGJ
1.29% China 25 iS, FXI
1.28% Spain Index, EWP
1.27% OTC Dynamic PS, PWO
1.25% Belgium Index, EWK
1.20% Capital Markets KWB ST, KCE
1.19% Pharmaceutical H, PPH
1.17% Value SmallCap iS M, JKL
1.15% Dividend International, PID
1.13% Software, IGV
1.11%Financial ServicesDJ, IYG
1.07% Dividend Achievers PS, PFM
1.04% Bank Regional H, RKH
1.01% Value LargeCap Dynamic PS, PWV
1.01% SmallCap PS Zacks, PZJ
1.00% Europe 100 BLDRS, ADRU
1.00% Value SmallCap S&P 600 B, IJS
1.00% Japan LargeCap Blend TOPIX 150, ITF
0.99% Dividend SPDR, SDY
0.99% Consumer Cyclical DJ, IYC
0.99% Value SmallCap VIPERS, VBR
0.97% Growth LargeCap NASDAQ Fidelity, ONEQ
0.97% Value SmallCap Russell 2000, IWN
0.96% Ultra MidCap400 Double, MVV
0.95% Pacific ex-Japan, EPP
0.95% Value Large Cap DJ, ELV
0.94% Value EAFE MSCI, EFV
0.94% Semiconductor iS GS, IGW
0.92% Emerging VIPERs, VWO
0.92% Australia Index, EWA
0.91% Value S&P 500 B, IVE
0.91% Asia 50 BLDRS, ADRA
0.91% LargeCap Blend S&P=Weight R, RSP
0.90% Networking, PXQ
0.89% Ultra S&P500 Double, SSO
0.87% Technology MS sT, MTK
0.85% Semiconductor H, SMH
0.85% Health Care VIPERs, VHT
0.85% Dividend DJ Select, DVY
0.83% LargeCap Blend Socially Responsible iS, KLD
0.82% Growth S&P 500, RPG
0.82% Ultra Dow30 Double, DDM
0.82% Value LargeCap Russell 3000, IWW
0.81% Value MidCap Russell, IWS
0.81% Value MidCap Dynamic PS, PWP
0.80% Industrials VIPERs, VIS
0.80% Broadband H, BDH
0.80% LargeCap Blend Core iS M, JKD
0.79% Industrial LargeCap Blend DJ US, IYJ
0.78% Value LargeCap NYSE 100 iS, NY
0.78% Value LargeCap iS M, JKF
0.78% Value VIPERs, VTV
0.78% Healthcare DJ, IYH
0.78% Industrial SPDR, XLI
0.74% Telecommunications Global, IXP
0.73% Growth MidCap S&P 400, RFG
0.73% Value LargeCap Fundamental RAFI 1000, PRF
0.70% Consumer Staples SPDR, XLP
0.69% Value 1000 Russell, IWD
0.68% Value Small Cap DJ, DSV
0.66% Developed 100 BLDRS, ADRD
0.66% SmallCap S&P 600, IJR
0.65% Japan Index, EWJ
0.64% SmallCap Russell 2000, IWM
0.61% Software H, SWH
0.61% LargeCap Blend S&P 100, OEF
0.58% Consumer Staples VIPERs, VDC
0.58% Microcap Russell, IWC
0.54% S&P 500 SPDRs LargeCap Blend, SPY
0.54% LargeCap Blend S&P 1500 iS, ISI
0.54% Pacific VIPERs, VPL
0.53% Small Cap VIPERs, VB
0.52% Italy Index, EWI
0.48% Blend Total Market VIPERs, VTI
0.48% Value LargeCap Euro STOXX 50 DJ, FEU
0.46% DIAMONDS (DJIA), DIA
0.46% LargeCap Blend Russell 3000, IWV
0.45% S&P 500 iS LargeCap Blend, IVV
0.45% United Kingdom Index, EWU
0.44% Health Care SPDR, XLV
0.43% Dividend Appreciation Vipers, VIG
0.42% LargeCap Blend Total Market DJ, IYY
0.41% WilderHill Clean Energy PS, PBW
0.38% MidCap S&P 400 SPDRs, MDY
0.37% Internet H, HHH
0.37% EAFE Index, EFA
0.35% Europe 350 S&P Index, IEV
0.33% MidCap Blend Core iS M, JKG
0.32% Global 100, IOO
0.31% LargeCap 1000 R, IWB
0.31% Value MidCap S&P 400 B, IJJ
0.29% European VIPERs, VGK
0.28% LargeCap Blend NYSE Composite iS, NYC
0.28% Pharmaceuticals, PJP
0.28% MidCap Russell, IWR
0.24% LargeCap VIPERs, VV
0.24% Biotechnology, IBB
0.23% LargeCap Rydex Rus Top 50, XLG
0.23% Micro Cap Zachs, PZI
0.20% Value SmallCap Dynamic PS, PWY
0.17% EMU Europe Index, EZU
0.17% Growth VIPERs, VUG
0.17% Switzerland Index, EWL
0.17% Healthcare Global, IXJ
0.16% Extended Mkt VIPERs, VXF
0.15% Mexico Index, EWW
0.14% Value 40 Large Low P/E FT DB, FDV
0.14% Emerging Markets, EEM
0.14% MidCap S&P 400 iS, IJH
0.13% Growth SmallCap Dynamic PS, PWT
0.13% SmallCap Core iS M, JKJ
0.12% Bond, Aggregate, AGG
0.10% Growth MidCap 400 B, IJK
0.10% MidCap VIPERs, VO
0.10% Growth BARRA Small Cap 600, IJT
0.08% Netherlands Index, EWN
0.08% Sweden Index, EWD
0.07% Biotech H, BBH
0.04% LargeCap Blend Dynamic PS, PWC
0.03% Retail H, RTH
0.02% Growth LargeCap Russell 3000, IWZ
0.00% Germany Index, EWG
-0.03% France Index, EWQ
-0.04% Growth Large Cap, ELG
-0.04% Retail, PMR
-0.05% IPOs, First Tr IPOX-100, FPX
-0.05% Bond, 1-3 Year Treasury, SHY
-0.05% Networking, IGN
-0.08% Growth S&P 500/BARRA, IVW
-0.09% Transportation Av DJ, IYT
-0.09% Growth Small Cap DJ, DSG
-0.09% Growth 1000 Russell, IWF
-0.12% Growth MidCap Russell, IWP
-0.12% Short 100% MidCap 400, MYY
-0.12% Austria Index, EWO
-0.13% Financial SPDR, XLF
-0.16% Bond, 10 Year Treasury, IEF
-0.20% Bond, 20+ Years Treasury, TLT
-0.23% Emerging 50 BLDRS, ADRE
-0.26% Growth EAFE MSCI, EFG
-0.28% Food & Beverage, PBJ
-0.29% Euro STOXX 50, FEZ
-0.30% Growth SmallCap VIPERs, VBK
-0.33% Growth LargeCap iS M, JKE
-0.33% Short 100% Dow 30, DOG
-0.35% Growth SmallCap R 2000, IWO
-0.35% Bond, Corp, LQD
-0.42% Lg Cap Growth PSD, PWB
-0.42% Growth SmallCap iS M, JKK
-0.43% MidCap Growth iS M, JKH
-0.45% Short 100% S&P 500, SH
-0.68% Bond, TIPS, TIP
-0.83% Biotech & Genome, PBE
-0.92% Latin Am 40, ILF
-1.04% Short 200% Dow 30 PS, DXD
-1.06% Short 200% S&P 500 PS, SDS
-1.06% Short 200% MidCap 400 PS, MZZ
-1.07% Growth Mid Cap Dynamic PS, PWJ
-1.07% Canada Index, EWC
-1.12% Semiconductors, PSI
-1.13% Internet Infrastructure H, IIH
-1.15% Biotech SPDR, XBI
-1.26% Materials SPDR, XLB
-1.36% Utilities, PUI
-1.38% Short 100% QQQ, PSQ
-1.51% Brazil Index, EWZ
-1.68% South Africa Index, EZA
-1.96% Materials VIPERs, VAW
-2.10% Utilities VIPERs, VPU
-2.13% Utilities DJ, IDU
-2.26% Commodity Tracking, DBC
-2.30% Value Line Timeliness MidCap Gr, PIV
-2.43% Utilities SPDR, XLU
-2.53% Utilities H, UTH
-2.62% Basic Materials DJ US, IYM
-2.68% Gold Shares S.T., GLD
-2.72% Short 200% QQQ PS, QID
-2.94% Energy Global, IXC
-3.19% Oil, Crude, U.S. Oil Fund, USO
-3.20% Silver Trust iS, SLV
-3.45% Metals & Mining SPDR, XME
-3.63% Energy SPDR, XLE
-3.97% Oil & Gas, PXJ
-3.97% Energy VIPERs, VDE
-4.01% Energy DJ, IYE
-4.10% Natural Resource iS GS, IGE
-4.70% Oil Services H, OIH
-4.79% Energy Exploration & Prod, PXE
-7.12% Internet B2B H, BHH