by Robert W. Colby, Senior Analyst TraderPlanet.com
Stock market: over the past 2 days, price recovered a normal fraction of Monday’s steep loss.
But volume remained low, calling into question the significance of the partial price recovery.
Reward/Risk tradeoffs for equitiesin general still do not appear attractive.
U.S. Treasury bond pricerose again, suggesting a continuing shift toward safety.
Investment Grade Corporate Bondshave been significantly underperforming U.S. Treasuries, suggesting quality concerns.
On Wednesday, the Standard & Poor’s 500cash index (1,281.66) rose 10.15 points, or 0.80%. TotalNYSE volume fell 2%, reflecting diminished demand for stocks. Volume has been stuck at relatively low summer vacation season levels.
On Monday, the S&P 500 closed below the closing prices of the previous 3 trading days, suggesting a short-term downtrend. The NYSEand NASDAQA-D Lines both fell to their lowest levels in 4 weeks, confirming an intermediate-term downtrend. On Tuesday and Wednesday, the indexes simply recovered normal fractions of Monday’s steep loss.
The S&P 500 remains below the 5-week uptrend line that formed the lower boundary line of a Bearish Rising Wedge that formed from the low of 1,200.44 set on 7/15/2008 to the high of 1313.15 set on 8/11/2008. Volume was in a declining trend during those weeks, and that is typical of the Bearish Rising Wedge pattern. A Bearish Rising Wedge is a typical pattern for a counter-trend oversold bounce in aBear Market. The implication of such a Bearish Rising Wedge breakdown is that the S&P should test or break its low of 1,200.44 set on 7/15/2008.
Longer-term, the S&P 500 has been in a Bearish downtrend since the intraday high of 1,576.09 on 10/11/2007.
Spotlight on event stocks: Here is a stock screenI 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
0.99% , PIV , Value Line Timeliness MidCap Gr, PIV
10.01% , KBH , KB HOME
6.10% , NTAP , NETWK APPLIANCE
10.51% , LEN , Lennar Corp. (LEN)
1.01% , IWV , LargeCap Blend Russell 3000, IWV
5.35% , PMCS , PMC SIERRA
0.89% , KLD , LargeCap Blend Socially Responsible iS, KLD
4.93% , AFL , AFLAC
4.88% , SUN , SUNOCO
3.36% , UIS , UNISYS
1.75% , BHH , Internet B2B H, BHH
4.23% , VLO , VALERO ENERGY
2.09% , PXJ , Oil & Gas, PXJ
3.13% , MCO , MOODYS CORP
9.71% , MBI , MBIA
7.35% , SANM , SANMINA
6.48% , DHI , D.R. HORTON, DHI
3.50% , FXI , China 25 iS, FXI
0.86% , PUI , Utilities, PUI
4.76% , CTX , CENTEX
1.03% , EWD , Sweden Index, EWD
1.10% , EZU , EMU Europe Index, EZU
5.35% , LEH , LEHMAN BROS HLDG
2.41% , CEG , CONSTELL ENERGY
1.20% , VB ,Small CapVIPERs, VB
3.57% , EWT , Taiwan Index, EWT
1.85% , HOLX , Hologic, Inc., HOLX
4.85% , MER , MERRILL LYNCH
1.58% , DGT , Global Titans, DGT
0.67% , PWV , Value LargeCap Dynamic PS, PWV
1.16% , PWP , Value MidCap Dynamic PS, PWP
4.99% , CIT , CIT GROUP
0.65% , JKE , Growth LargeCap iS M, JKE
3.38% , MTG , MGIC INVESTMENT
3.65% , XHB , Homebuilders SPDR, XHB
2.26% , XME , Metals & Mining SPDR, XME
1.18% , PWT , GrowthSamllCap Dynamic PS, PWT
1.36% , JKK , Growth SmallCap iS M, JKK
2.16% , EXPD , Expeditors International WA
2.11% , PZI ,Micro CapZachs, PZI
Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-3.16% , DLTR ,Dollar TreeStores Inc
-2.09% , BMY , BRISTOL MYERS
-0.85% , IBB , Biotechnology, IBB
-1.81% , XBI , Biotech SPDR, XBI
-2.97% , FRX , FOREST LABS STK A
-0.83% , IFF , INTL FLAV & FRAG
-1.67% , JCI , JOHNSON CONTROLS
-1.12% , TUP , TUPPERWARE
-2.07% , F , FORD MOTOR
-1.92% , CNP , CENTERPNT ENERGY
-1.07% , DXD , Short 200%Dow 30 PS, DXD
-2.92% , MAT , MATTEL
-1.18% , GOOG , Google
-0.91% , CIEN.O , CIENA
-1.92% , BIIB , BIOGEN IDEC
-0.41% , SSCC , Smurfit-Stone Container Corporation
-0.97% , CTB , COOPER TIRE
-0.84% , WAG , WALGREEN
-0.32% , LLY , ELI LILLY
-0.28% , HGSI , Human Genome Sciences Inc
-0.90% , MYL , MYLAN LABS
-0.57% , BBT , BB&T
-0.50% , ZMH , ZIMMER HLDGS
-0.30% , STJ , ST JUDE MEDICAL
-0.48% , RHT , Red Hat Inc.
-0.37% , BC , BRUNSWICK
-0.56% , HBAN , HUNTINGTON
-0.25% , ROST , Ross Stores Inc
-0.77% , MO , ALTRIA GROUP
-0.89% , QID , Short 200%QQQ PS, QID
-0.57% , SWY , SAFEWAY
-0.38% , VIA , VIACOM INC. (New)
-0.82% , CEPH , Cephalon Inc
-0.41% , LPX , LOUISIANA PAC
-0.26% , PBE , Biotech & Genome, PBE
-0.10% , XRAY , DENTSPLY International Inc
-0.13% , HPQ , HEWLETT PACKARD
-0.45% , MDT , MEDTRONIC
-0.33% , ALL ,ALLSTATE
-0.33% , AOC , AON
Sectors: among the 9 major U.S. sectors, all 9 rose.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
1.93%Financial SPDR, XLF
1.58% Energy SPDR, XLE
0.96% Technology SPDR, XLK
0.92% Materials SPDR, XLB
0.71% Utilities SPDR, XLU
0.46% Consumer Staples SPDR, XLP
0.30% Consumer Discretionary SPDR, XLY
0.29% Industrial SPDR, XLI
0.15% Health Care SPDR, XLV
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 8/12/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up.
Energy (XLE) Neutral, Market Weight. On 8/21/08, both the XLE absolute price and the XLE/SPY Relative Strength Ratio rose to new 3-week highs, thereby suggesting some improvement in the short-term trend.
Health Care (XLV) Neutral, Market Weight. On 8/19/08, the XLV/SPY Relative Strength Ratio moved up to a new 7-month high, confirming an intermediate-term upside correction.
Technology (XLK) Neutral, Market Weight. XLK/SPY Relative Strength Ratio has performed about in line with the broader market over the past 6 years.
Materials (XLB) Neutral, Market Weight. On 8/21/08, both the XLB absolute price and the XLB/SPY Relative Strength Ratio rose to new 3-week highs, thereby suggesting some improvement in the short-term trend.
Utilities (XLU) Bearish, Underweight. On 8/21/08, both the XLU absolute price and the XLU /SPY Relative Strength Ratio rose to new 3-week highs, thereby suggesting at least a short-term rally. But on 8/15/08, XLU/SPY Relative Strength Ratio broke down to a new 4-month low, confirming an intermediate-term downside correction.
Industrial (XLI) Bearish, Underweight. On 8/20/08, XLI/SPY Relative Strength Ratio broke down to a new 3-week low. On 7/2/08, XLI/SPY Relative Strength broke down to a new 5-month low.
Consumer Discretionary (XLY) Bearish, Underweight. On 7/15/08, XLY absolute price fell to its lowest level in 5 years. 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 26-month low on 8/19/08 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 compositeprice broke an uptrend line on 8/21/08. Relative Strength Ratio had been in a rising trend since 3/3/08 but has turned moderately lower since topping on 8/14/08.
Growth Stock/Value StockRelative Strength Ratio stabilized since making a new 7-week low on 7/23/08. The short-term trend is neutral. 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 turned down after making a new 27-month high on 8/14/08. The long-term trend has been Bullish most of the time since 4/8/99.
Crude Oil futurescontract rose moderately for the 3rd consecutive day. The short-term trend may have bottomed on 8/19/08, following oversold conditions. The intermediate-term trend appears uncertain. 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 stocksector has underperformed Crude Oil since 12/10/07.
Gold futures contractclosed higher 2 days in a row. Gold’s short-term trend could be in the process of turning up. Gold has been in an intermediate-term downtrend since the peak of 1033.90 on 3/17/08. Gold has been in a long-term uptrend since 8/25/1999.
Gold Mining stocks continue to underperform Gold futures on a major trend basis.
U.S. Treasury Bondfutures contract price closed higher in an Outside Day. Outside Day means a higher high and lower low, which means greater volatility. The higher close means that the day’s trend direction was settled to the upside. On 8/25/08, price jumped up to a new 4-month high, and the short-term trend was confirmed as Bullish. Bonds have been in an intermediate-term uptrend since 6/13/08. Long term, Bonds have been in a neutral sideways trend since June 2003.
iShares iBoxx $ InvestGrade Corp Bond (LQD) ETF fell as Treasury Bonds rose. On 8/27/08, LQD/TLT Relative Strength Ratio broke down to another new 5-month low, again confirming short-and intermediate-term Bearish trends. The long-term trend is also Bearish.
The U.S. dollar eased lower, this a day after scoring a new 8-month price high. The short-term trend is up, and the intermediate-term trend direction remains up. 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 39.3% Bulls versus 39.3% Bears as of 8/29/2008, according to the weekly Investors Intelligence survey ofstock market newslettersadvisors. The Bull/Bear ratio fell to 1.00, down from 1.06 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.
VIX Fear Index, now at 19.76, 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 23.34, 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 NASDAQVolatility using a method comparable to that used for VIX.
CBOE Put/Call Ratio is 0.68, 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 1.23, 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 marketwas 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 and seem likely to stay weak over the next several months.
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.
The breadth of the market has been in a relatively Bearish trend long term since June 2007. 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 theNYSE and for theNASDAQ both fell to new 20-month lows, so major breadth trends remain Bearish.
Todiscover the next Resistance, traders probably will be watching how the market acts at the following levels for the Standard & Poor’s 500 cash index (1,281.66):
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
1,313.15 high of 8/11/2008
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 (1,281.66):
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
3.65% Homebuilders SPDR, XHB
3.64% South Africa Index, EZA
3.57% Taiwan Index, EWT
3.50% China 25 iS, FXI
3.09% China LargeCap Growth G D H USX PS, PGJ
2.95% Brazil Index, EWZ
2.63% Emerging 50 BLDRS, ADRE
2.33%Dividend High Yield Equity PS, PEY
2.26% Metals & Mining SPDR, XME
2.13% Emerging Markets, EEM
2.11% Micro Cap Zachs, PZI
2.09% Oil & Gas, PXJ
2.06% Latin Am 40, ILF
2.05% Networking, PXQ
1.98% Canada Index, EWC
1.96% Value SmallCap S&P 600, RZV
1.94% Emerging VIPERs, VWO
1.93% Financial SPDR, XLF
1.93% Growth MidCap S&P 400, RFG
1.88% Ultra MidCap400 Double, MVV
1.87% Oil, Crude, U.S. Oil Fund, USO
1.83% Semiconductor SPDR, XSD
1.81% Telecommunications Global, IXP
1.79% Telecom H, TTH
1.75% Internet B2B H, BHH
1.75%Financial ServicesDJ, IYG
1.70% Energy Exploration & Prod, PXE
1.70% Natural Resource iS GS, IGE
1.69%Capital MarketsKWB ST, KCE
1.67% Telecom Services VIPERs, VOX
1.64% Building & Construction, PKB
1.63% Financial DJ US, IYF
1.63% GrowthSmall CapDJ, DSG
1.63% Ultra S&P500 Double, SSO
1.60% Value S&P 500, RPV
1.60%Bank Regional H, RKH
1.58% Energy SPDR, XLE
1.58% Global Titans, DGT
1.55% Telecom DJ US, IYZ
1.54% Spain Index, EWP
1.54% Value LargeCap Fundamental RAFI 1000, PRF
1.52% Hong Kong Index, EWH
1.51% Energy VIPERs, VDE
1.49% WilderHill Clean Energy PS, PBW
1.47% Basic Materials DJ US, IYM
1.45% Dividend International, PID
1.42% Financials Global LargeCap Value, IXG
1.41% LargeCap Blend S&P 1500 iS, ISI
1.36% Growth SmallCap iS M, JKK
1.36% Energy DJ, IYE
1.35% Europe 100 BLDRS, ADRU
1.33% Value SmallCap Russell 2000, IWN
1.32% Value MidCap S&P 400, RFV
1.31% Netherlands Index, EWN
1.30% Australia Index, EWA
1.29% Ultra Dow30 Double, DDM
1.29% Materials VIPERs, VAW
1.27% Growth SmallCap R 2000, IWO
1.25% Belgium Index, EWK
1.25% SmallCap PS Zacks, PZJ
1.22% Growth S&P 500, RPG
1.20% Transportation Av DJ, IYT
1.20%Small CapVIPERs, VB
1.19% SmallCap Russell 2000, IWM
1.18% Dividend DJ Select, DVY
1.18% Financials VIPERs, VFH
1.18% Growth SmallCap Dynamic PS, PWT
1.18% ValueSmall CapDJ, DSV
1.18% Semiconductors, PSI
1.17% Growth MidCap 400 B, IJK
1.17% Software H, SWH
1.16% Energy Global, IXC
1.16% Value MidCap Dynamic PS, PWP
1.15%Micro CapRussell, IWC
1.15% LargeCap Blend S&P=Weight R, RSP
1.15% Software, IGV
1.13% Value SmallCap S&P 600 B, IJS
1.13% Value MidCap iS M, JKI
1.13% Value MidCap S&P 400 B, IJJ
1.10% Nanotech Lux, PXN
1.10% Europe 350 S&P Index, IEV
1.10% EMU Europe Index, EZU
1.08% Growth BARRASmall Cap600, IJT
1.08% Growth SmallCap VIPERs, VBK
1.08% Value SmallCap VIPERS, VBR
1.07% MidCap S&P 400 iS, IJH
1.06% LargeCap Rydex Rus Top 50, XLG
1.06% Value LargeCap iS M, JKF
1.06% United Kingdom Index, EWU
1.05% SmallCap S&P 600, IJR
1.05% Pacific ex-Japan, EPP
1.04% France Index, EWQ
1.03% Euro STOXX 50, FEZ
1.03% Sweden Index, EWD
1.03% Extended Mkt VIPERs, VXF
1.02% MidCap Russell, IWR
1.01% LargeCap Blend Russell 3000, IWV
1.01% Growth MidCap Russell, IWP
1.01% Mexico Index, EWW
1.00%REIT VIPERs, VNQ
1.00% Ultra QQQ Double, QLD
1.00% Semiconductor iS GS, IGW
0.99% Value Line Timeliness MidCap Gr, PIV
0.99% Hardware & Electronics, PHW
0.99% Networking, IGN
0.99% Value VIPERs, VTV
0.99% Growth EAFE MSCI, EFG
0.98% SmallCap Core iS M, JKJ
0.98% Technology MS sT, MTK
0.98% LargeCap BlendNYSE Composite iS, NYC
0.98% Water Resources, PHO
0.98% South Korea Index, EWY
0.97% S&P 500 SPDRs LargeCap Blend, SPY
0.97% Dividend SPDR, SDY
0.97% Value SmallCap iS M, JKL
0.97% MidCap S&P 400 SPDRs, MDY
0.97% MidCap Growth iS M, JKH
0.97% Value SmallCap Dynamic PS, PWY
0.97% MidCap VIPERs, VO
0.96% Growth Mid Cap Dynamic PS, PWJ
0.96% Technology SPDR, XLK
0.95% Italy Index, EWI
0.95% MidCap Blend Core iS M, JKG
0.95% Internet Infrastructure H, IIH
0.95% EAFE Index, EFA
0.95% Value Large Cap DJ, ELV
0.94% Value LargeCap Russell 3000, IWW
0.94% Commodity Tracking, DBC
0.94% IPOs, First Tr IPOX-100, FPX
0.93% Utilities DJ, IDU
0.92% Materials SPDR, XLB
0.92% Value LargeCap Euro STOXX 50 DJ, FEU
0.92% Industrial LargeCap Blend DJ US, IYJ
0.91% Broadband H, BDH
0.91% Developed 100 BLDRS, ADRD
0.90% Technology Global, IXN
0.90% Growth 1000 Russell, IWF
0.89% Real Estate US DJ, IYR
0.89% LargeCap Blend Socially Responsible iS, KLD
0.88% OTC Dynamic PS, PWO
0.88% Value EAFE MSCI, EFV
0.88% Value S&P 500 B, IVE
0.87% Value MidCap Russell, IWS
0.87% Utilities VIPERs, VPU
0.86% Value 1000 Russell, IWD
0.86% Utilities, PUI
0.86% LargeCap Blend Dynamic PS, PWC
0.85% European VIPERs, VGK
0.85% S&P 500 iS LargeCap Blend, IVV
0.84% LargeCap Blend Total Market DJ, IYY
0.84% Utilities H, UTH
0.84% Info Tech VIPERs, VGT
0.83% Growth LargeCap Russell 3000, IWZ
0.82% Oil Services H, OIH
0.82% DIAMONDS (DJIA), DIA
0.79% Industrials VIPERs, VIS
0.77% Insurance, PIC
0.77% Wilshire 5000 ST TM, TMW
0.76% Growth S&P 500/BARRA, IVW
0.76% Value LargeCap NYSE 100 iS, NY
0.75% Global 100, IOO
0.75% Growth VIPERs, VUG
0.74% Dividend Achievers PS, PFM
0.73% LargeCap 1000 R, IWB
0.73% Technology GS, IGM
0.72% Consumer Staples VIPERs, VDC
0.72% Austria Index, EWO
0.71% Singapore Index, EWS
0.71% Utilities SPDR, XLU
0.71% Dividend Leaders, FDL
0.71% Software, PSJ
0.71% Technology DJ US, IYW
0.70% Retail, PMR
0.68% Realty Cohen & Steers, ICF
0.68% Internet H, HHH
0.67% Value LargeCap Dynamic PS, PWV
0.67% Blend Total Market VIPERs, VTI
0.67% Growth LargeCap NASDAQ Fidelity, ONEQ
0.65% Growth LargeCap iS M, JKE
0.65% Consumer D. VIPERs, VCR
0.65% Growth LargeCap NASDAQ 100, QQQQ
0.65% Growth Large Cap, ELG
0.64% REIT Wilshire, RWR
0.63% Germany Index, EWG
0.62% Switzerland Index, EWL
0.61% Dividend Appreciation Vipers, VIG
0.60% Asia 50 BLDRS, ADRA
0.57% LargeCap VIPERs, VV
0.57% Aerospace & Defense, PPA
0.54% LargeCap Blend S&P 100, OEF
0.53% Internet Architecture H, IAH
0.53% Dividend Growth PS, PHJ
0.47% Lg Cap Growth PSD, PWB
0.46% Consumer Staples SPDR, XLP
0.44% Japan Index, EWJ
0.42% Semiconductor H, SMH
0.38% Consumer Cyclical DJ, IYC
0.38% Health Care VIPERs, VHT
0.36% Japan LargeCap Blend TOPIX 150, ITF
0.36% Consumer Non-Cyclical, IYK
0.30% Consumer Discretionary SPDR, XLY
0.29% Industrial SPDR, XLI
0.27% LargeCap Blend Core iS M, JKD
0.26% Bond, TIPS, TIP
0.25% Food & Beverage, PBJ
0.24% Healthcare Global, IXJ
0.22% Malaysia Index, EWM
0.21% Value 40 Large Low P/E FT DB, FDV
0.20% Retail H, RTH
0.18% Pacific VIPERs, VPL
0.17% Bond, 20+ Years Treasury, TLT
0.16% Gold Shares S.T., GLD
0.15% Leisure & Entertainment, PEJ
0.15% Health Care SPDR, XLV
0.15% Bond, 10 Year Treasury, IEF
0.12% Bond, Aggregate, AGG
0.11% Pharmaceuticals, PJP
0.06% Bond, 1-3 Year Treasury, SHY
-0.13% Biotech H, BBH
-0.15% Healthcare DJ, IYH
-0.16% Bond, Corp, LQD
-0.18% Pharmaceutical H, PPH
-0.23% Telecommunications & Wireless, PTE
-0.26% Biotech & Genome, PBE
-0.66% Short 100% S&P 500, SH
-0.66% Short 100% QQQ, PSQ
-0.74% Silver Trust iS, SLV
-0.77% Short 100% Dow 30, DOG
-0.85% Biotechnology, IBB
-0.89% Short 200% QQQ PS, QID
-1.07% Short 200% Dow 30 PS, DXD
-1.71% Short 200% S&P 500 PS, SDS
-1.73% Short 100% MidCap 400, MYY
-1.79% Short 200% MidCap 400 PS, MZZ
-1.81% Biotech SPDR, XBI