by Robert W. Colby, Senior Analyst TraderPlanet.com
Stock Market: prone to sudden reversals.
The markets may have entered a choppy, trendless consolidation mode for the short term.
August vacation schedule: next update posted here on Saturday, 8/9/08.
Updated Weekly Rankings as of the close on Thursday, July 31, 2008, are posted below.
On Thursday, major stock price indexes opened substantially lower, immediately rallied to recover all the early loss, but gave up the ghost in the final hour to close below the morning low, the open, the previous close, and the midpoint of the High-Low range. The S&P 500 cash index closed at 1,267.38, down 16.88 points or 1.31%. Total NYSE volume fell 5%, suggesting waning demand for stocks.
The breadth of the market turned Bearish. The Advance-Decline balance ((A-D) / (A+D)) was -22.54%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was -31.55%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -46.75% 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 news of the day was gloomy, in contrast to Wednesday’s upbeat stories. The economy expanded 1.9% in 2Q, versus the 2.3% consensus estimate. Treasury Secretary Paulson said housing is still correcting, and Alan Greenspan said home prices are nowhere near a bottom.
The stock market turned choppy in July, with little net change for the month. Short-term day-to-day movements appear to be prone to sudden reversals, which may contribute to trader unwillingness to hold positions.
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
13.98% , IP , INTL PAPER
12.50% , MOT , MOTOROLA
7.28% , Q , QWEST COMMUNICAT
9.62% , MRO , MARATHON OIL
12.45% , WM , WASHINGTON MUT
7.01% , SYMC , SYMANTEC
5.87% , ESRX , EXPRESS SCRIPTS
7.66% , UNM , UNUMPROVIDENT
4.82% , TYC , TYCO INTL
0.99% , BDH , Broadband H, BDH
5.34% , WY , WEYERHAEUSER
3.15% , AW , ALLIED WASTE IND
1.18% , PJP , Pharmaceuticals, PJP
2.23% , UST , UST
2.76% , MHS , MEDCO HEALTH
3.16% , DISH , EchoStar Communications Corporation
3.92% , PBE , Biotech & Genome, PBE
1.56% , TDC , Teradata Corporation, TDC
6.02% , AYE , ALLEGHENY ENERGY
3.81% , XRX , XEROX
2.74% , ADP , AUTOMATIC DATA
1.57% , ABI , Applera Corp-Applied Biosystems Group (ABI)
1.63% , TMO , THERMO ELECTRON
5.12% , XBI , Biotech SPDR, XBI
2.05% , IVGN , Invitrogen Corporation
2.93% , UNH , UNITEDHEALTH GRP
2.18% , DLTR , Dollar Tree Stores Inc
0.63% , LQD , Bond, Corp, LQD
5.14% , SGP , SCHERING PLOUGH
0.99% , TLT , Bond, 20+ Years Treasury, TLT
3.02% , RIMM , RESEARCH IN MOTION LTD
0.65% , RPV , Value S&P 500, RPV
1.46% , RSH , RADIOSHACK
1.95% , CEG , CONSTELL ENERGY
0.11% , CCU , CLEAR CHANNEL
2.02% , IBB , Biotechnology, IBB
1.97% , SEE , SEALED AIR
1.00% , COL , ROCKWELL COLLINS
2.34% , CAH , CARDINAL HEALTH
3.17% , KBH , KB HOME
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-26.10% , DLX , DELUXE
-19.17% , HOLX , Hologic, Inc., HOLX
-7.63% , IIH , Internet Infrastructure H, IIH
-6.12% , HANS , Hansen Natural, HANS
-5.60% , TE , TECO ENERGY
-7.17% , EK , EASTMAN KODAK
-1.19% , IWZ , Growth LargeCap Russell 3000, IWZ
-1.10% , SDY , Dividend SPDR, SDY
-9.35% , PH , PARKER HANNIFIN
-2.07% , ADRA , Asia 50 BLDRS, ADRA
-6.22% , MO , ALTRIA GROUP
-0.90% , RPG , Growth S&P 500, RPG
-5.81% , NWL , NEWELL RUBBER
-5.37% , CVS , CVS
-1.43% , FPX , IPOs, First Tr IPOX-100, FPX
-6.40% , CTB , COOPER TIRE
-5.28% , AES , AES
-0.74% , FDV , Value 40 Large Low P/E FT DB, FDV
-3.06% , CBE , COOPER INDS STK A
-0.84% , FDL , Dividend Leaders, FDL
-2.63% , ADSK , AUTODESK
-3.72% , ACS , AFFILIATED COMPUTER
-1.23% , IWV , LargeCap Blend Russell 3000, IWV
-3.55% , XME , Metals & Mining SPDR, XME
-2.86% , PXJ , Oil & Gas, PXJ
-1.42% , NYC , LargeCap Blend NYSE Composite iS, NYC
-4.25% , BA , BOEING
-1.44% , JKH , MidCap Growth iS M, JKH
-1.96% , CLX , CLOROX
-1.50% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-4.40% , EMR , EMERSON ELECTRIC
-3.05% , XLI , Industrial SPDR, XLI
-1.92% , JKF , Value LargeCap iS M, JKF
-0.56% , IYZ , Telecom DJ US, IYZ
-1.17% , NY , Value LargeCap NYSE 100 iS, NY
-0.99% , PWC , LargeCap Blend Dynamic PS, PWC
-1.91% , VIS , Industrials VIPERs, VIS
-0.42% , IGM , Technology GS, IGM
-0.92% , PZJ , SmallCap PS Zacks, PZJ
-3.82% , RRD , RR DONNELLEY SON
Sectors: among the 9 major U.S. sectors, 1 rose and 8 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
0.09% Health Care SPDR, XLV
-0.58% Technology SPDR, XLK
-0.66% Consumer Discretionary SPDR, XLY
-0.74% Materials SPDR, XLB
-0.92% Financial SPDR, XLF
-1.07% Utilities SPDR, XLU
-1.55% Consumer Staples SPDR, XLP
-3.05% Industrial SPDR, XLI
-4.10% 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.
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.
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.
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 Relative Strength Ratio fell to a new 5-month low on 7/30/08 and has been in a falling trend since 5/23/08. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.
NASDAQ Composite Relative Strength Ratio has been in a rising trend since 3/3/08.
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. Longer term, 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 rose to a new 17-month high on 7/29/08. The main trend is confirmed Bullish.
Crude Oil September futures contract gave back part of Wednesday’s gain. The short-term outlook seems debatable. The more important long-term trend has remained 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 reversed to the upside, retracing most of Wednesday’s steep loss. Gold has been in a short-term downtrend since 7/15/08 but could be at a turning point. Gold has been in an intermediate-term uptrend since 5/2/08 and in a long-term uptrend since 8/25/1999.
Gold Mining stocks continue to underperform Gold futures.
U.S. Treasury Bond September futures contract rose to close above the closes of the previous 10 trading days. This changes bonds’ short-term trend to up. Bonds have been in an intermediate-term uptrend since 6/13/08, and in a neutral sideways trend long-term since June 2003.
The U.S. dollar lost upside momentum. The short-term uptrend may be tired, the intermediate-term trend is neutral sideways since March 2008, and the long-term trend remains 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 30.0% Bulls versus 50.0% Bears as of 7/30/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio rose to 0.60, up from 0.59 the previous week. The low of 0.57 on 7/16/08 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 22.94, 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 26.24, 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 0.73, which indicates 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 1.15, which indicates 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 subprime credit 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 Tide 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 (1,267.38):
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 (1,267.38):
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
5.12% Biotech SPDR, XBI
4.12% Short 200% Dow 30 PS, DXD
3.92% Biotech & Genome, PBE
2.68% Short 200% S&P 500 PS, SDS
2.34% Short 200% MidCap 400 PS, MZZ
2.27% Homebuilders SPDR, XHB
2.02% Biotechnology, IBB
1.96% Short 100% Dow 30, DOG
1.88% Hardware & Electronics, PHW
1.51% Short 100% MidCap 400, MYY
1.38% Short 100% S&P 500, SH
1.21% Networking, PXQ
1.18% Pharmaceuticals, PJP
1.16% Nanotech Lux, PXN
1.05% Networking, IGN
0.99% Bond, 20+ Years Treasury, TLT
0.99% Broadband H, BDH
0.98% Silver Trust iS, SLV
0.80% Bond, 10 Year Treasury, IEF
0.79% Health Care VIPERs, VHT
0.72% Telecommunications & Wireless, PTE
0.72% Value MidCap S&P 400, RFV
0.67% Biotech H, BBH
0.65% Value S&P 500, RPV
0.63% Gold Shares S.T., GLD
0.63% Bond, Corp, LQD
0.56% Healthcare DJ, IYH
0.55% Leisure & Entertainment, PEJ
0.54% Internet Architecture H, IAH
0.53% Short 200% QQQ PS, QID
0.51% Water Resources, PHO
0.51% Bond, Aggregate, AGG
0.51% Software, PSJ
0.50% Short 100% QQQ, PSQ
0.43% OTC Dynamic PS, PWO
0.42% Bond, TIPS, TIP
0.38% Technology MS sT, MTK
0.23% Value MidCap iS M, JKI
0.20% Bond, 1-3 Year Treasury, SHY
0.15% Software, IGV
0.10% Global Titans, DGT
0.09% Health Care SPDR, XLV
0.06% Insurance, PIC
0.06% Growth SmallCap Dynamic PS, PWT
0.04% Healthcare Global, IXJ
0.04% Semiconductor H, SMH
0.01% Pharmaceutical H, PPH
-0.02% Software H, SWH
-0.10% Germany Index, EWG
-0.10% Telecom H, TTH
-0.11% Semiconductors, PSI
-0.14% Growth LargeCap NASDAQ Fidelity, ONEQ
-0.23% Semiconductor SPDR, XSD
-0.24% Growth LargeCap NASDAQ 100, QQQQ
-0.24% Growth Small Cap DJ, DSG
-0.29% Telecommunications Global, IXP
-0.32% Austria Index, EWO
-0.34% Ultra QQQ Double, QLD
-0.36% Semiconductor iS GS, IGW
-0.38% Value Small Cap DJ, DSV
-0.40% Retail, PMR
-0.40% Transportation Av DJ, IYT
-0.41% SmallCap Russell 2000, IWM
-0.41% Growth SmallCap iS M, JKK
-0.41% Spain Index, EWP
-0.42% Technology GS, IGM
-0.43% Microcap Russell, IWC
-0.43% Utilities VIPERs, VPU
-0.45% Technology DJ US, IYW
-0.46% Dividend Growth PS, PHJ
-0.47% Lg Cap Growth PSD, PWB
-0.47% Dividend Achievers PS, PFM
-0.48% Value SmallCap iS M, JKL
-0.49% Switzerland Index, EWL
-0.50% Utilities DJ, IDU
-0.52% Dividend High Yield Equity PS, PEY
-0.56% Telecom DJ US, IYZ
-0.56% Value MidCap Dynamic PS, PWP
-0.57% Canada Index, EWC
-0.58% Technology SPDR, XLK
-0.61% Value MidCap Russell, IWS
-0.64% Consumer Cyclical DJ, IYC
-0.66% Consumer Discretionary SPDR, XLY
-0.67% Internet B2B H, BHH
-0.68% Value LargeCap Euro STOXX 50 DJ, FEU
-0.69% Value SmallCap VIPERS, VBR
-0.70% LargeCap Blend Socially Responsible iS, KLD
-0.70% Consumer D. VIPERs, VCR
-0.71% Info Tech VIPERs, VGT
-0.71% Growth BARRA Small Cap 600, IJT
-0.72% Technology Global, IXN
-0.73% Growth SmallCap VIPERs, VBK
-0.74% Value 40 Large Low P/E FT DB, FDV
-0.74% Materials SPDR, XLB
-0.76% Financials Global LargeCap Value, IXG
-0.78% Wilshire 5000 ST TM, TMW
-0.80% Small Cap VIPERs, VB
-0.81% Euro STOXX 50, FEZ
-0.82% Growth SmallCap R 2000, IWO
-0.83% Micro Cap Zachs, PZI
-0.83% Commodity Tracking, DBC
-0.84% Dividend Leaders, FDL
-0.84% SmallCap S&P 600, IJR
-0.84% Value LargeCap Fundamental RAFI 1000, PRF
-0.86% SmallCap Core iS M, JKJ
-0.87% Telecom Services VIPERs, VOX
-0.89% Growth EAFE MSCI, EFG
-0.89% Internet H, HHH
-0.89% Value MidCap S&P 400 B, IJJ
-0.90% Value SmallCap S&P 600, RZV
-0.90% Growth S&P 500, RPG
-0.90% Capital Markets KWB ST, KCE
-0.91% Emerging VIPERs, VWO
-0.92% Financial SPDR, XLF
-0.92% European VIPERs, VGK
-0.92% Financials VIPERs, VFH
-0.92% SmallCap PS Zacks, PZJ
-0.94% Value SmallCap S&P 600 B, IJS
-0.94% LargeCap Blend Core iS M, JKD
-0.96% Growth Large Cap, ELG
-0.96% South Africa Index, EZA
-0.97% EMU Europe Index, EZU
-0.98% EAFE Index, EFA
-0.99% LargeCap Blend Dynamic PS, PWC
-0.99% Value EAFE MSCI, EFV
-0.99% Europe 100 BLDRS, ADRU
-1.00% Value SmallCap Russell 2000, IWN
-1.01% Food & Beverage, PBJ
-1.01% Global 100, IOO
-1.04% Growth VIPERs, VUG
-1.04% Financial DJ US, IYF
-1.05% Value S&P 500 B, IVE
-1.05% MidCap Russell, IWR
-1.06% Extended Mkt VIPERs, VXF
-1.06% Malaysia Index, EWM
-1.06% Dividend International, PID
-1.07% Utilities SPDR, XLU
-1.07% LargeCap VIPERs, VV
-1.09% Value LargeCap Russell 3000, IWW
-1.10% Dividend SPDR, SDY
-1.11% Europe 350 S&P Index, IEV
-1.13% REIT Wilshire, RWR
-1.13% Building & Construction, PKB
-1.13% Blend Total Market VIPERs, VTI
-1.15% Mexico Index, EWW
-1.15% Australia Index, EWA
-1.16% Dividend DJ Select, DVY
-1.17% Value LargeCap Dynamic PS, PWV
-1.17% LargeCap Blend Total Market DJ, IYY
-1.17% MidCap S&P 400 iS, IJH
-1.17% Value LargeCap NYSE 100 iS, NY
-1.17% Value 1000 Russell, IWD
-1.17% Real Estate US DJ, IYR
-1.18% LargeCap 1000 R, IWB
-1.19% Growth LargeCap Russell 3000, IWZ
-1.20% Utilities H, UTH
-1.21% LargeCap Blend S&P=Weight R, RSP
-1.22% LargeCap Blend S&P 1500 iS, ISI
-1.23% LargeCap Blend Russell 3000, IWV
-1.23% Dividend Appreciation Vipers, VIG
-1.25% REIT VIPERs, VNQ
-1.25% S&P 500 iS LargeCap Blend, IVV
-1.28% France Index, EWQ
-1.28% Pacific VIPERs, VPL
-1.30% Value Line Timeliness MidCap Gr, PIV
-1.31% Value Large Cap DJ, ELV
-1.32% S&P 500 SPDRs LargeCap Blend, SPY
-1.33% Consumer Non-Cyclical, IYK
-1.33% Growth LargeCap iS M, JKE
-1.34% Consumer Staples VIPERs, VDC
-1.38% Value VIPERs, VTV
-1.38% MidCap Blend Core iS M, JKG
-1.42% LargeCap Blend NYSE Composite iS, NYC
-1.42% Growth 1000 Russell, IWF
-1.43% LargeCap Blend S&P 100, OEF
-1.43% IPOs, First Tr IPOX-100, FPX
-1.44% MidCap Growth iS M, JKH
-1.44% Developed 100 BLDRS, ADRD
-1.44% Brazil Index, EWZ
-1.45% Growth S&P 500/BARRA, IVW
-1.47% MidCap S&P 400 SPDRs, MDY
-1.47% Retail H, RTH
-1.47% Growth MidCap Russell, IWP
-1.50% Japan LargeCap Blend TOPIX 150, ITF
-1.51% Bank Regional H, RKH
-1.51% Sweden Index, EWD
-1.52% Financial Services DJ, IYG
-1.55% Consumer Staples SPDR, XLP
-1.55% Italy Index, EWI
-1.55% MidCap VIPERs, VO
-1.56% Japan Index, EWJ
-1.56% LargeCap Rydex Rus Top 50, XLG
-1.57% Growth MidCap S&P 400, RFG
-1.58% South Korea Index, EWY
-1.58% United Kingdom Index, EWU
-1.59% Value SmallCap Dynamic PS, PWY
-1.66% Emerging 50 BLDRS, ADRE
-1.68% Industrial LargeCap Blend DJ US, IYJ
-1.70% Materials VIPERs, VAW
-1.71% Realty Cohen & Steers, ICF
-1.71% Latin Am 40, ILF
-1.74% Belgium Index, EWK
-1.83% DIAMONDS (DJIA), DIA
-1.84% Netherlands Index, EWN
-1.91% Industrials VIPERs, VIS
-1.92% Value LargeCap iS M, JKF
-1.94% Aerospace & Defense, PPA
-1.97% Pacific ex-Japan, EPP
-1.98% Growth MidCap 400 B, IJK
-2.07% Asia 50 BLDRS, ADRA
-2.10% Oil, Crude, U.S. Oil Fund, USO
-2.14% Growth Mid Cap Dynamic PS, PWJ
-2.17% China LargeCap Growth G D H USX PS, PGJ
-2.24% Emerging Markets, EEM
-2.32% Energy Global, IXC
-2.32% Utilities, PUI
-2.52% Basic Materials DJ US, IYM
-2.53% Singapore Index, EWS
-2.63% Ultra S&P500 Double, SSO
-2.74% Hong Kong Index, EWH
-2.78% Ultra MidCap400 Double, MVV
-2.86% Oil & Gas, PXJ
-2.93% Energy Exploration & Prod, PXE
-3.04% Natural Resource iS GS, IGE
-3.05% Industrial SPDR, XLI
-3.09% Energy DJ, IYE
-3.29% Energy VIPERs, VDE
-3.31% Taiwan Index, EWT
-3.46% Oil Services H, OIH
-3.55% Metals & Mining SPDR, XME
-3.59% WilderHill Clean Energy PS, PBW
-3.71% Ultra Dow30 Double, DDM
-4.10% Energy SPDR, XLE
-4.25% China 25 iS, FXI
-7.63% Internet Infrastructure H, IIH
