Daily Stock Market Commentary – 9/11/2008

Stock Market: tried to recover, but lacked technical power.

Stocks closed mixed to slightly higher on relatively low volume.

It was not a convincing change of trend.

Seasonal tendencies for the month of September are unfavorable.

Reward/Risk tradeoffs for equities in general still appear unattractive.

Crude Oil futures contract price fell to another new 5-month low.

Gold futures contract price plunged to a new 11-month low.

The U.S. dollar price rose to another new 12-month price high.

On Wednesday, stocks turned choppy in a relatively narrow range and ended mixed to modestly higher. Prices gapped higher at the open but headed down between 10:00 and 11:30 a.m., turning red and breaking down below the Tuesday’s low. Prices suddenly sprang back to the plus side, consolidated mid session, then rose above the morning high after 2:00 p.m. Stocks topped out at about 3:15 p.m. and fell to a weak close below the open. The Standard & Poor’s 500 cash index (1,232.04) closed up 7.53 points, or 0.61. Total NYSE volume fell 12%, indicating relatively weak demand for stocks.

The trend for the short term is Bearish. The established intermediate-term trend for the general stock market remains clearly Bearish. Long-term, the S&P 500 has been in a Primary Tide Bear Market since the intraday high of 1,576.09 on 10/11/2007.

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
1.81% , BDH , Broadband H, BDH
0.98% , PKB , Building & Construction, PKB
6.21% , PXE , Energy Exploration & Prod, PXE
2.62% , TBH , Telebras HOLDRS, TBH*
3.29% , HGSI , Human Genome Sciences Inc
2.19% , ADRA , Asia 50 BLDRS, ADRA
0.75% , TMW , Wilshire 5000 ST TM, TMW
2.09% , PXJ , Oil & Gas, PXJ
11.34% , MU , MICRON TECH
4.20% , ETN , EATON
4.34% , LRCX , LAM RESEARCH CORP
2.88% , MVV , Ultra MidCap400 Double, MVV
13.02% , STLD , Steel Dynamics, STLD
2.54% , IXC , Energy Global, IXC
0.23% , PSJ , Software, PSJ
1.63% , IBB , Biotechnology, IBB
1.48% , BBH , Biotech H, BBH
4.06% , EOG , EOG RESOURCES
2.13% , PIV , Value Line Timeliness MidCap Gr, PIV
4.29% , RFMD , RF Micro Devices Inc
1.80% , PWJ , Growth Mid Cap Dynamic PS, PWJ
1.08% , PWC , LargeCap Blend Dynamic PS, PWC
3.27% , EXPD , Expeditors International WA
2.61% , IBM , IBM
4.05% , HUM , HUMANA
1.66% , PXQ , Networking, PXQ
5.89% , CMI , CUMMINS
2.95% , EBAY , EBAY
1.23% , IJT , Growth BARRA Small Cap 600, IJT
6.04% , BMC , BMC SOFTWARE
3.90% , VDE , Energy VIPERs, VDE
0.99% , VB , Small Cap VIPERs, VB
1.72% , EWT , Taiwan Index, EWT
3.45% , IYE , Energy DJ, IYE
1.60% , VFC , VF
3.67% , FDX , FEDEX
0.82% , PMR , Retail, PMR
1.28% , EWJ , Japan Index, EWJ
2.44% , IYM , Basic Materials DJ US, IYM
1.69% , MET , METLIFE

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-2.70% , TTH , Telecom H, TTH
-12.13% , MTG , MGIC INVESTMENT
-5.19% , SLV , Silver Trust iS, SLV
-25.25% , FNM , FANNIE MAE
-2.12% , DGT , Global Titans, DGT
-3.59% , WYNN , Wynn Resorts L
-6.78% , FITB , FIFTH THIRD BANC
-2.30% , DISCA , Discovery Holding Co.
-2.77% , LLL , L-3 COMMS HLDGS
-2.50% , SNV , SYNOVUS
-6.68% , S , SPRINT NEXTEL
-2.77% , BDX , BECTON DICKINSON
-25.00% , FRE , FREDDIE MAC
-2.62% , IAU , Gold COMEX iS, IAU
-3.12% , Q , QWEST COMMUNICAT
-4.92% , MOT , MOTOROLA
-4.25% , CECO , CAREER EDUCATION CORP
-0.67% , PTE , Telecommunications & Wireless, PTE
-2.92% , XEL , XCEL ENERGY
-2.91% , AMZN , Amazoncom Inc
-29.70% , WM , WASHINGTON MUT
-4.72% , ETFC.O , E*TRADE FINANCIAL
-3.03% , LAMR , Lamar Advertising Company
-5.83% , HMA , HEALTH MGMT STK A
-2.97% , GLD , Gold Shares S.T., GLD
-3.21% , RTN , RAYTHEON
-3.14% , AMAT , APPLIED MATERIAL
-3.65% , PHW , Hardware & Electronics, PHW
-3.61% , COL , ROCKWELL COLLINS
-0.94% , MIL , MILLIPORE
-2.71% , SYK , STRYKER
-5.90% , MER , MERRILL LYNCH
-3.65% , THC , TENET HEALTHCARE
-1.72% , HOLX , Hologic, Inc., HOLX
-4.04% , GT , GOODYEAR TIRE
-4.48% , PWER , POWER ONE
-4.00% , UIS , UNISYS
-0.80% , WAT , WATERS
-2.73% , PNC , PNC FINL SVC
-3.61% , BA , BOEING

Sectors: among the 9 major U.S. sectors, 5 and 4 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
3.94% Energy SPDR, XLE
1.11% Utilities SPDR, XLU
0.86% Materials SPDR, XLB
0.70% Consumer Staples SPDR, XLP
0.42% Industrial SPDR, XLI
-0.41% Health Care SPDR, XLV
-0.47% Technology SPDR, XLK
-1.03% Consumer Discretionary SPDR, XLY
-1.22% Financial SPDR, XLF

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 9/10/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up. On 9/8/08, XLP absolute price rose to a new 8-month high, indicating significant price trend strength.

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.

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.

Industrial (XLI) Bearish, Underweight. On 9/5/08, the XLI absolute price fell to a new 7-week low, indicating intermediate-term trend weakness.

Utilities (XLU) Bearish, Underweight. On 9/9/08, the XLU absolute price fell to a new 23-month low, indicating significant trend weakness.

Technology (XLK) Bearish, Underweight. On 9/5/08, the XLK absolute price fell to a new 6-month low, indicating significant trend weakness.

Materials (XLB) Bearish, Underweight. On 9/10/08, the XLB absolute price fell to a new 8-month low, indicating significant trend weakness.

Energy (XLE) Bearish, Underweight. On 9/9/08, the XLE absolute price fell to a new 8-month low, indicating significant trend weakness.

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 34-month low on 9/5/08 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 remains Bearish. On 9/8/08, absolute price broke down to a new 8-week low, indicating intermediate-term trend weakness. Relative Strength Ratio has been in a declining trend since 8/14/08.

NASDAQ 100 Index absolute price broke down to a new 5-month low and Relative Strength broke down to a new 4-month low on 9/5/08, indicating substantial trend weakness.

Growth Stock/Value Stock Relative Strength Ratio fell to a new 5-month low on 9/8/08. The short-term trend remains down. 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 has been consolidating since making a 2-year high on 8/14/08. The long-term trend has been Bullish most of the time since 4/8/99.

Crude Oil futures contract price fell to a new 5-month low. The short-term and intermediate-term trends remain Bearish. 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 futures contract price plunged to a new 11-month low. Gold’s short-term and intermediate-term trends remain Bearish. Gold has been in an intermediate-term downtrend since the peak of 1033.90 on 3/17/08.

Gold Mining stocks continue to underperform Gold futures on a major trend basis.

U.S. Treasury Bond futures contract price consolidated recent gains. On 9/9/08, it rose to a new 6-month high. The short-term trend remains 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 again. On 9/9/08, LQD/TLT Relative Strength Ratio broke down to another new multi-year low, again confirming that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors appear to be seriously concerned about the economic outlook.

iShares Lehman TIPS Bond (TIP) ETF remains relatively weak. On 9/4/08, TIP/TLT Relative Strength Ratio broke down to a new multi-year low, again confirming that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors are not concerned about the inflation outlook.

The U.S. dollar price rose to another new 12-month price high. The short-term and intermediate-term trends remain Bullish.

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 38.2% Bulls versus 41.6% Bears as of 9/10/2008, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio fell to 0.92, down from 0.95 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 24.52, still indicates relatively moderate 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 27.76, still indicates relatively moderate 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 0.86, which indicates 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 0.93, 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 and seem likely to weaken further 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 the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends remain Bearish.

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 (1,232.04):

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 (1,232.04):

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
6.21% Energy Exploration & Prod, PXE
3.94% Energy SPDR, XLE
3.90% Energy VIPERs, VDE
3.86% South Korea Index, EWY
3.85% Internet B2B H, BHH
3.66% Natural Resource iS GS, IGE
3.60% Metals & Mining SPDR, XME
3.45% Energy DJ, IYE
3.12% Biotech SPDR, XBI
2.88% Ultra MidCap400 Double, MVV
2.77% Canada Index, EWC
2.77% Transportation Av DJ, IYT
2.67% Brazil Index, EWZ
2.54% Energy Global, IXC
2.44% Basic Materials DJ US, IYM
2.22% Oil Services H, OIH
2.19% Asia 50 BLDRS, ADRA
2.13% Value Line Timeliness MidCap Gr, PIV
2.09% Oil & Gas, PXJ
1.87% Materials VIPERs, VAW
1.87% Pacific ex-Japan, EPP
1.86% Biotech & Genome, PBE
1.85% Homebuilders SPDR, XHB
1.81% Broadband H, BDH
1.80% Australia Index, EWA
1.80% Growth Mid Cap Dynamic PS, PWJ
1.77% Latin Am 40, ILF
1.72% Value 40 Large Low P/E FT DB, FDV
1.72% Taiwan Index, EWT
1.70% Lg Cap Growth PSD, PWB
1.68% Growth MidCap 400 B, IJK
1.66% Networking, PXQ
1.65% Developed 100 BLDRS, ADRD
1.63% Biotechnology, IBB
1.62% Semiconductors, PSI
1.61% Emerging Markets, EEM
1.59% China LargeCap Growth G D H USX PS, PGJ
1.51% MidCap Growth iS M, JKH
1.50% MidCap VIPERs, VO
1.50% SmallCap PS Zacks, PZJ
1.48% Biotech H, BBH
1.44% OTC Dynamic PS, PWO
1.44% China 25 iS, FXI
1.40% Growth SmallCap Dynamic PS, PWT
1.38% Value SmallCap S&P 600 B, IJS
1.37% Emerging 50 BLDRS, ADRE
1.36% MidCap S&P 400 SPDRs, MDY
1.33% Water Resources, PHO
1.31% SmallCap Core iS M, JKJ
1.29% Growth Small Cap DJ, DSG
1.28% Japan Index, EWJ
1.24% Growth VIPERs, VUG
1.23% Growth BARRA Small Cap 600, IJT
1.23% MidCap S&P 400 iS, IJH
1.22% Growth LargeCap iS M, JKE
1.22% Micro Cap Zachs, PZI
1.21% Internet Architecture H, IAH
1.21% Growth SmallCap VIPERs, VBK
1.20% Growth MidCap S&P 400, RFG
1.19% Semiconductor SPDR, XSD
1.16% Growth S&P 500, RPG
1.15% Europe 100 BLDRS, ADRU
1.13% SmallCap S&P 600, IJR
1.13% Japan LargeCap Blend TOPIX 150, ITF
1.13% Growth MidCap Russell, IWP
1.11% Utilities SPDR, XLU
1.09% Value MidCap S&P 400 B, IJJ
1.08% LargeCap Blend Dynamic PS, PWC
1.08% Extended Mkt VIPERs, VXF
1.07% Growth SmallCap iS M, JKK
1.06% Technology MS sT, MTK
1.06% Growth S&P 500/BARRA, IVW
1.06% Value SmallCap VIPERS, VBR
1.05% Networking, IGN
1.00% Growth 1000 Russell, IWF
0.99% Software, IGV
0.99% Small Cap VIPERs, VB
0.99% Value SmallCap S&P 600, RZV
0.98% Building & Construction, PKB
0.98% Value SmallCap Russell 2000, IWN
0.97% EAFE Index, EFA
0.96% Value Small Cap DJ, DSV
0.94% MidCap Blend Core iS M, JKG
0.94% Singapore Index, EWS
0.94% France Index, EWQ
0.93% SmallCap Russell 2000, IWM
0.91% Ultra QQQ Double, QLD
0.90% LargeCap Blend NYSE Composite iS, NYC
0.89% Ultra S&P500 Double, SSO
0.89% Insurance, PIC
0.87% Hong Kong Index, EWH
0.86% Materials SPDR, XLB
0.84% Value SmallCap Dynamic PS, PWY
0.84% Growth LargeCap Russell 3000, IWZ
0.82% Growth LargeCap NASDAQ 100, QQQQ
0.82% Retail, PMR
0.81% LargeCap VIPERs, VV
0.81% Financials Global LargeCap Value, IXG
0.81% Dividend International, PID
0.80% Pacific VIPERs, VPL
0.79% Ultra Dow30 Double, DDM
0.78% Technology GS, IGM
0.78% Microcap Russell, IWC
0.77% Value MidCap S&P 400, RFV
0.77% Info Tech VIPERs, VGT
0.75% Oil, Crude, U.S. Oil Fund, USO
0.75% Wilshire 5000 ST TM, TMW
0.74% Industrials VIPERs, VIS
0.74% Growth LargeCap NASDAQ Fidelity, ONEQ
0.72% Healthcare Global, IXJ
0.72% Growth Large Cap, ELG
0.72% MidCap Russell, IWR
0.70% Growth EAFE MSCI, EFG
0.70% Consumer Staples SPDR, XLP
0.68% Malaysia Index, EWM
0.68% Utilities, PUI
0.67% United Kingdom Index, EWU
0.67% Blend Total Market VIPERs, VTI
0.66% Realty Cohen & Steers, ICF
0.66% Utilities H, UTH
0.63% Utilities DJ, IDU
0.62% Semiconductor iS GS, IGW
0.61% Utilities VIPERs, VPU
0.61% LargeCap 1000 R, IWB
0.61% Industrial LargeCap Blend DJ US, IYJ
0.60% LargeCap Blend Russell 3000, IWV
0.60% Technology DJ US, IYW
0.59% Retail H, RTH
0.59% LargeCap Blend Socially Responsible iS, KLD
0.57% Value LargeCap NYSE 100 iS, NY
0.57% Value LargeCap Russell 3000, IWW
0.56% Value MidCap Dynamic PS, PWP
0.55% European VIPERs, VGK
0.55% LargeCap Blend Total Market DJ, IYY
0.54% Real Estate US DJ, IYR
0.54% Value EAFE MSCI, EFV
0.52% REIT Wilshire, RWR
0.52% Value SmallCap iS M, JKL
0.52% S&P 500 iS LargeCap Blend, IVV
0.49% Value LargeCap Euro STOXX 50 DJ, FEU
0.49% Global 100, IOO
0.47% Value MidCap Russell, IWS
0.45% LargeCap Blend S&P 100, OEF
0.45% Value MidCap iS M, JKI
0.43% Europe 350 S&P Index, IEV
0.42% Industrial SPDR, XLI
0.42% DIAMONDS (DJIA), DIA
0.42% LargeCap Blend S&P 1500 iS, ISI
0.41% S&P 500 SPDRs LargeCap Blend, SPY
0.39% Food & Beverage, PBJ
0.39% Netherlands Index, EWN
0.39% LargeCap Blend S&P=Weight R, RSP
0.37% Dividend Appreciation Vipers, VIG
0.36% WilderHill Clean Energy PS, PBW
0.36% Euro STOXX 50, FEZ
0.35% Software H, SWH
0.34% Italy Index, EWI
0.33% LargeCap Rydex Rus Top 50, XLG
0.32% Switzerland Index, EWL
0.31% Sweden Index, EWD
0.31% EMU Europe Index, EZU
0.29% Value LargeCap Dynamic PS, PWV
0.25% Technology Global, IXN
0.24% LargeCap Blend Core iS M, JKD
0.23% Software, PSJ
0.22% Pharmaceuticals, PJP
0.22% South Africa Index, EZA
0.22% Healthcare DJ, IYH
0.20% Value LargeCap Fundamental RAFI 1000, PRF
0.19% Value 1000 Russell, IWD
0.18% REIT VIPERs, VNQ
0.17% Value VIPERs, VTV
0.16% Growth SmallCap R 2000, IWO
0.16% Consumer Staples VIPERs, VDC
0.15% Leisure & Entertainment, PEJ
0.15% Commodity Tracking, DBC
0.14% Health Care VIPERs, VHT
0.14% Emerging VIPERs, VWO
0.13% Consumer Non-Cyclical, IYK
0.08% Semiconductor H, SMH
0.02% Bond, 1-3 Year Treasury, SHY
0.02% Value LargeCap iS M, JKF
0.00% Belgium Index, EWK
-0.03% Consumer Cyclical DJ, IYC
-0.04% Bond, Corp, LQD
-0.04% Germany Index, EWG
-0.05% Bond, TIPS, TIP
-0.07% Bond, Aggregate, AGG
-0.07% Dividend DJ Select, DVY
-0.08% Nanotech Lux, PXN
-0.08% Value S&P 500 B, IVE
-0.08% Value S&P 500, RPV
-0.09% Value Large Cap DJ, ELV
-0.13% Spain Index, EWP
-0.21% Consumer D. VIPERs, VCR
-0.23% Dividend Achievers PS, PFM
-0.23% IPOs, First Tr IPOX-100, FPX
-0.25% Bond, 10 Year Treasury, IEF
-0.30% Dividend Growth PS, PHJ
-0.32% Short 100% Dow 30, DOG
-0.33% Pharmaceutical H, PPH
-0.36% Dividend SPDR, SDY
-0.37% Internet Infrastructure H, IIH
-0.38% Financial DJ US, IYF
-0.41% Health Care SPDR, XLV
-0.45% Short 100% S&P 500, SH
-0.47% Technology SPDR, XLK
-0.51% Capital Markets KWB ST, KCE
-0.54% Telecommunications Global, IXP
-0.59% Internet H, HHH
-0.62% Bond, 20+ Years Treasury, TLT
-0.64% Aerospace & Defense, PPA
-0.67% Telecommunications & Wireless, PTE
-0.68% Short 200% Dow 30 PS, DXD
-0.69% Short 100% QQQ, PSQ
-0.76% Dividend High Yield Equity PS, PEY
-0.78% Financials VIPERs, VFH
-0.89% Mexico Index, EWW
-0.89% Bank Regional H, RKH
-0.89% Financial Services DJ, IYG
-0.93% Short 200% QQQ PS, QID
-1.03% Consumer Discretionary SPDR, XLY
-1.13% Short 200% S&P 500 PS, SDS
-1.16% Dividend Leaders, FDL
-1.22% Financial SPDR, XLF
-1.57% Short 100% MidCap 400, MYY
-1.67% Austria Index, EWO
-1.76% Telecom Services VIPERs, VOX
-2.12% Global Titans, DGT
-2.25% Telecom DJ US, IYZ
-2.70% Telecom H, TTH
-2.75% Short 200% MidCap 400 PS, MZZ
-2.97% Gold Shares S.T., GLD
-3.65% Hardware & Electronics, PHW
-5.19% Silver Trust iS, SLV