Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) and iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) both whipsawed back below 50-day SMAs on 3/14/12 turning bearish again.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) whipsawed back below its 50-day and 200-day SMAs on 3/14/12, turning bearish again.
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) fell below its 50-day and 200-day SMAs on 3/14/12.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) fell below its 50-day and 200-day SMAs on 3/14/12.
U.S. dollar ETF (UUP) rose above the highs of the previous 7 weeks on 3/14/12. UUP is above both its 50-day and 200-day SMAs. Longer term, the bias is bullish because the 50-day SMA has remained consistently above the 200-day SMA every day since 10/26/11.
Gold, SPDR Gold Shares ETF (GLD) fell below 8-weeks’ lows and fell further below both its 50-day and 200-day SMAs on 3/14/12. Gold may be in a medium-term correction with further to run.
Silver, iShares Silver Trust ETF (SLV) fell below the lows of the previous 7 weeks and fell below its 50-day SMA on 3/14/12, thereby turning technically bearish. SLV remains below its 200-day SMA, and the 50-day SMA has been below the 200-day SMA every day since 10/27/11.
The S&P 500 Composite (SPX: 1,394.28) fell 0.12%. NYSE trading volume rose 3%. It has been an exceptional few months, but stocks do not normally to go straight up for very long. Odds are stocks will experience the usual ups and downs yet this year. Up big already from the October low, Potential Reward relative to potential Risk appears unattractive for stocks.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Equity Mutual Funds lost 6% in 2011, according to Lipper Research Services.
Hedge funds lost 5%, according to COO Connect.
Hedge funds suffered their second-worst year on record in 2011, according to an index maintained by Eurekahedge, an independent research firm that specializes in hedge fund data. Some of the world’s largest and best-known hedge funds suffered huge losses, down 20% to 50%.
But not all money managers were down in 2011; see:
Robert W. Colby Asset Management, Inc. (click here).
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 major U.S. stock sectors ranked in order of long-term relative strength:
Available by subscription only (click here).
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Stock Market Indicators
The Dow Theory appears to have signaled a Secondary Reaction, or at least a Minor Ripple downside correction, as of 3/6/12, when the Dow-Jones Industrial Average closed below its closing price lows of the previous 4 weeks while the Dow-Jones Transportation Average closed below its closing price lows of the previous 9 weeks. These two Averages previously gave an early warning by diverging after 2/3/12, as the Transports turned weak and failed to confirm higher highs by the Industrials.
NASDAQ Composite/S&P 500 Relative Strength Ratio rose above its highs of the previous 5-months on 3/9/12, confirming its rising trend since the low on 12/29/12. The Ratio remains above its 50-day and 200-day SMAs, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/24/12. Absolute price of the NASDAQ Composite broke out above its 11-year intraday high of 3000.11 set on 2/29/12.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) whipsawed back below its 50-day SMA on 3/14/12 turning bearish again. BKF/SPY remains below its 200-day SMA. Longer term, the bias is bearish because the 50-day SMA has remained below the 200-day SMA every day since 1/13/11.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) whipsawed back below its 50-day SMA on 3/14/12 turning bearish again. EEM/SPY remains below its 200-day SMA. Longer term, the bias is bearish because the 50-day SMA has remained below the 200-day SMA every day since 2/3/11.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below its 50-day SMA on 3/9/12. EFA/SPY is bearish below both its 50-day and 200-day SMAs, and with the 50-day SMA below the 200-day SMA consistently every day since 1/14/11.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) rose above its highs of the previous 2 months on 3/14/12, reconfirming its preexisting bullish trend. OEX/SPX remains above its 50-day and 200-day SMAs, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 8/25/11. Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative safety of large size. On the other side of the coin, Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors prefer riskier and more volatile stocks.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) fell below the lows of the previous 9 weeks on 3/6/12, thereby confirming a relatively weak trend for the medium term. IWM/SPY is technically neutral, below its 50-day SMA and 200-day SMA, but with the 50-day SMA now slightly above the 200-day SMA.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) whipsawed back below its 50-day and 200-day SMAs on 3/14/12, turning bearish again. The 50-day SMA has remained below the 200-day SMA every day since 8/24/11.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sentiment for Contrary Thinking
Recent sentiment data, detailed below, indicates alarming degrees of optimism and bullish complacency. When the majority of investors has been bullish for some time, we can assume that they are already fully invested in the market. Once everyone who is going to buy has already bought, stocks are vulnerable to a downside shakeout. The pendulum of emotion tends to swing too far in one direction, but market mood always reverts to the mean.
ABC News reported on 2/21/12 that 10 out of 10 investment strategists at large firms were bullish. http://abcnews.go.com/watch/world-news-with-diane-sawyer/SH5585921/VD55173505/world-news-221-dow-jones-climbs-past-13000
The Commitment of Traders (COT) report showed that the Commercials (giant corporations with deep pockets) have been buying “risk off” defensive futures contracts, specifically, the U.S. dollar and the ten-year Treasury note. On the other side, trend-following Speculators have been buying “risk on” aggressively bullish contracts, setting a new all-time net-long record in the Nasdaq futures. The unusually large size of Speculators’ positions implies a weak-handed, top-heavy stock market.
AAII Sentiment: There were 51.64% Bulls and 20.19% Bears, according to the AAII weekly survey reported on 2/9/12. This was the highest level of bullish sentiment in more than a year, since 52.34% Bulls on 1/13/11.
Investors Intelligence Sentiment: There were 54.8% Bulls versus 25.8% Bears, according to the Investors Intelligence weekly survey of stock market newsletter advisors reported on 2/15/11. This was the highest level of bullish sentiment since the stock market top in May, 2011.
Investment Newsletters recently were 75% bullish, the highest since near the major top in year 2000, according to Hulbert Digest.
Market Vane’s Bullish Consensus among Advisors and Newsletters rose to 65% Bulls–the same extreme level of optimism recorded at the February 2011 top in the stock market.
Short Selling ETFs were trading the lowest volume since the market top in April, 2011, according to Frank D. Gretz of Wellington Shields & Co.
Corporate insiders have been selling their companies’ stock at the heaviest rate since the market peak in April 2011, according to Mark Hulbert at MarketWatch. Insiders sold 656 shares for each 100 shares they bought, according to Argus Research Vickers Weekly Insider Report. That was a big change in insider behavior from 81 shares sold for each 100 shares bought in November. Since corporate insiders (officers, directors, and largest shareholders) know so much more about their companies than the public can possibly know, it is bearish when insiders sell at such a heavy pace.
NYSE short interest collapsed from a high peak of 16.1 billion shares sold short last September, which coincided with the stock market lows, to 12.5 billion shares sold short in February, which was the lowest level since last April, at the market top. Short interest represents a pool of potential demand for stocks, since short sellers eventually must buy back the shares they borrowed. That pool of demand has been depleted.
VIX Fear Index broke down below the lows of the previous 4 years on 3/13/12, hitting 13.99 intraday, its lowest level since 6/20/07. VIX is down from a peak of 48.00 on 8/8/11: such a large drop indicated a shift away from fear and toward bullish complacency. 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.
The S&P 500 Composite Potential Resistance
1576.09, high of 10/11/2007
1552.76, high of 10/31/2007
1523.57, high of 12/11/2007
1498.85, high of 12/26/2007
1440.24, high of 5/19/2008
1406.32, high of 5/29/2008
The S&P 500 Composite Potential Support
1381.50, Fibonacci 78.6% of 2007-2009 range
1378.04, high of 2/29/2012
1376.55, Fibonacci 100.0% projection 10/11 range
1370.58, high of 5/2/11
1340.03, low of 3/6/2012
1337.35, low of 2/10/2012
1300.49, low of 1/30/2012
1277.58, low of 1/13/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1260.31, 200-day SMA
1257.46, low of 12/30/11
1257.58, Fibonacci 61.8% of 2011 range
1255.22, high of 12/22/2011
1248.64, low of 12/29/2011
1244.80, low of 12/7/2011
1239.73, low of 12/1/2011
1238.81, Fibonacci 78.6% of 1,576.09 high
1234.81, low of 11/3/11
1231.04, high of 12/16/11
1226.64, low of 11/9/2011
1222.68, Fibonacci 50% of 2011 range
1224.57, high of 12/19/11
1215.20, low of 12/16/11
1209.47, low of 12/14/2011
1209.43, low of 11/17/2011
1204.49, Fibonacci 23.6% of 2009-11 range
1202.37, low of 12/19/11
1187.77, Fibonacci 38.2% of 2011 range
1158.66, low of 11/25/2011
1144.38, Fibonacci 23.6% of 2011 range
1101.73, Fibonacci 38.2% of 2009-11 range
1074.77, low of 10/4/2011
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
1018.69, Fibonacci 50% of 2009-11 range
1008.55, Fibonacci 38.2% of 2009-2010 range
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
943.29, Gann 50.0% of 2009-2010 range
935.64, Fibonacci 61.8% of 2009-11 range
878.04, Fibonacci 61.8% of 2009-2010 range
874.17, Gann 62.5% of 2009-2010 range
869.32, low of 7/8/2009
817.40, Fibonacci 78.6% of 2009-11 range
805.17, Gann 75.0% of 2009-2010 range
785.13, Fibonacci 78.6% of 2009-2010 range
666.79, intraday low of 3/6/2009
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fixed-Income Investments
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) fell below its 50-day and 200-day SMAs on 3/14/12. TLT remains neutral. The 50-day SMA has remained above the 200-day SMA every day since 6/24/11. Support 109.82, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 119.14, 120.91, 121.64, 121.76, 124.02 and 125.03.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) fell below its 50-day and 200-day SMAs on 3/14/12. IEF remains neutral. The 50-day SMA has remained above the 200-day SMA every day since 6/21/11. Support 102.32, 101.36, 101.11, 99.79, and 97.66. Resistance 105.80, 106.49 and 106.66.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) is neutral. JNK/LQD is above its 50-day and 200-day SMAs, but the 50-day SMA has remained bearishly below the 200-day SMA every day since 6/20/11.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) turned bullish on 3/14/12 when the ratio rose above both its 50-day and 200-day SMAs, and with the 50-day SMA rising above the 200-day SMA.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tangible Assets, Commodities
U.S. dollar ETF (UUP) rose above the highs of the previous 7 weeks on 3/14/12. UUP is above both its 50-day and 200-day SMAs. Longer term, the bias is bullish because the 50-day SMA has remained consistently above the 200-day SMA every day since 10/26/11. Support 22.21, 22.01, 21.74, 21.58, 21.07, and 20.84. Resistance 22.46, 22.85, 23.52, 25.84, 27.19, 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) remains technically bearish below both its 50-day SMA and 200-day SMAs, and with the 50-day SMA consistently below the 200-day SMA every day since 8/8/11.
Crude Oil, United States Oil ETF (USO) remains technically bullish above both its 50-day and 200-day SMAs, and with the 50-day SMA above the 200-day SMA consistently every day since 1/3/12. USO has lost much of its upside momentum, however, since hitting its high at 42.30 on 3/1/12, and that could be a warning of potential trend change that bears watching. A breakdown below support at 39.91 would imply risk of a greater downside correction. Support 39.91, 38.51, 36.67, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 42.30 and 45.60.
Gold, SPDR Gold Shares ETF (GLD) fell below 8-weeks’ lows and fell further below both its 50-day and 200-day SMAs on 3/14/12. Gold may be in a medium-term correction with further to run. Longer term, the 50-day SMA has remained bullishly above the 200-day SMA every day since 2/11/09. Support: 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 174.00, 175.46, 177.40, and 185.85.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below the lows of the previous 3 years on 3/14/12, thereby reconfirming a bearish major trend for the long term. The 50-day SMA has remained bearishly below the 200-day SMA every day since 2/22/11.
Silver, iShares Silver Trust ETF (SLV) fell below the lows of the previous 7 weeks and fell below its 50-day SMA on 3/14/12, thereby turning technically bearish. SLV remains below its 200-day SMA, and the 50-day SMA has been below the 200-day SMA every day since 10/27/11. Support 30.67, 28.63, 27.83, 25.65, and 24.44. Resistance: 33.44, 36.44, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) remains neutral, above its 50-day SMA, below its 200-day SMA, and with the 50-day SMA below the 200-day SMA every day since 8/30/11. The 50-200 SMA spread has been narrowing since 1/24/12, however, indicating some loss of bearish momentum. From 12/28/11 to 3/1/12, SLV/GLD rose above its highs of the previous 5 months in what still could become a more extended recovery following an 8-month collapse.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) remains neutral, below its 200-day, above its 50-day SMAs, and with the 50-day SMA below the 200-day SMA every day since 8/8/11. JJC remains far below its 2011 high at 61.69 and recently has been lagging the stock market since JJC peaked at 51.41 on 2/9/12. Given that “Dr. Copper” is one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, this underperformance may be suggesting rising doubts about prospects going forward.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
2.99% , CEG , CONSTELL ENERGY
6.75% , RF , REGIONS FINAN
7.07% , CLF , CLIFFS NATURAL RESOURCES, CLF
2.36% , PSTL , Steel Global PS ETF, PSTL
10.50% , ZION , ZIONS
7.03% , LSI , LSI LOGIC
4.67% , BBBY , BED BATH BEYOND
1.86% , PMCS , PMC SIERRA
3.79% , LVLT.K , LEVEL 3 COMMUNICATIONS
3.78% , AAPL , APPLE COMPUTER
5.02% , TBT , 200% Short US T Bond, TBT
3.34% , WLP , WELLPOINT HEALTH
2.29% , PST , 200% Short Bond 7-10 Yr T, PST
2.71% , COF , CAPITAL ONE FNCL
3.50% , AXP , AMERICAN EXPRESS
2.08% , ALTR , ALTERA
2.03% , LNC , LINCOLN NATL
4.59% , SNV , SYNOVUS
4.56% , STI , SUNTRUST BANKS
0.27% , IGM , Technology GS, IGM
1.50% , UIS , UNISYS
2.46% , HBAN , HUNTINGTON
4.12% , BAC , BANK OF AMERICA
0.28% , FRN , Frontier Markets Guggenheim , FRN
0.85% , FITB , FIFTH THIRD BANC
1.42% , PFG , PRINCIPAL FINL
1.69% , SYK , STRYKER
2.79% , X , US STEEL CORP
1.76% , ADSK , AUTODESK
0.81% , HOG , HARLEY DAVIDSON
0.54% , IYW , Technology DJ US, IYW
3.48% , ETFC , E*TRADE FINANCIAL
1.90% , BC , BRUNSWICK
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-5.29% , URBN , Urban Outfitters Inc.
-3.52% , DXD , Short 200% Dow 30 PS, DXD
-3.71% , QID , Short 200% QQQ PS, QID
-3.88% , MZZ , Short 200% MidCap 400 PS, MZZ
-3.64% , SDS , Short 200% S&P 500 PS, SDS
-1.69% , IAU , Gold COMEX iS, IAU
-1.68% , GLD , Gold Shares S.T., GLD
-1.76% , TLT , Bond, 20+ Years Treasury, TLT
-1.77% , SH , Short 100% S&P 500, SH
-1.91% , PSQ , Short 100% QQQ, PSQ
-1.32% , APC , ANADARKO PETRO
-1.15% , SLV , Silver Trust iS, SLV
-1.74% , DOG , Short 100% Dow 30, DOG
-1.06% , TLH , Bond 10-20 Year US Treas, TLH
-1.60% , NEM , NEWMONT MINING
-0.67% , TEVA , Teva Pharmaceutical Industries Limited
-1.29% , SIRI , Sirius Satellite
-0.66% , KR , KROGER
-0.24% , COL , ROCKWELL COLLINS
-0.29% , CVS , CVS
-0.26% , MUB , Bond Muni ATM-Free S&P iS, MUB
-0.32% , AZO , AUTOZONE
-0.24% , TIP , Bond, TIPS, TIP
-0.30% , AET , AETNA
-0.46% , PLL , PALL
-1.13% , WAG , WALGREEN
-0.72% , IEF , Bond, 10 Year Treasury, IEF
-0.16% , SVU , SUPERVALU
-0.46% , PPL , PPL
-0.34% , AGG , Bond, Aggregate, AGG
-0.05% , TJX , TJX
-0.07% , PSTL , Steel Global PS ETF, PSTL
-0.06% , SHY , Bond, 1-3 Year Treasury, SHY
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
0.54% Technology DJ US, IYW
0.43% Info Tech VIPERs, VGT
0.37% Technology SPDR, XLK
0.35% QQQ Nasdaq 100 Trust, QQQ
0.28% Frontier Markets Guggenheim , FRN
0.23% Financial Services DJ, IYG
0.15% DIAMONDS (DJIA), DIA
0.13% Financial SPDR, XLF
0.06% Bear, Short S&P 500, SH
0.05% Growth S&P 500/BARRA, IVW
0.04% Germany Index, EWG
0.03% LargeCap Blend S&P 100, OEF
0.03% Growth 1000 Russell, IWF
0.00% Turkey MSCI iS, TUR
0.00% Growth VIPERs, VUG
0.00% Financials VIPERs, VFH
0.00% Bond Treasury Short-Term iS, SHV
-0.02% Financial DJ US, IYF
-0.03% Health Care SPDR, XLV
-0.11% S&P 500 SPDRs LargeCap Blend, SPY
-0.13% S&P 500 iS LargeCap Blend, IVV
-0.13% Consumer Discretionary SPDR, XLY
-0.14% Bond, 1-3 Year Treasury, SHY
-0.16% Semiconductor SPDR, XSD
-0.16% LargeCap VIPERs, VV
-0.17% Financial Preferred, PGF
-0.17% Indonesia MV, IDX
-0.19% REIT Wilshire, RWR
-0.19% LargeCap 1000 R, IWB
-0.21% Blend Total Market VIPERs, VTI
-0.21% Netherlands Index, EWN
-0.24% Industrial SPDR, XLI
-0.24% Real Estate US DJ, IYR
-0.25% LargeCap Blend S&P=Weight R, RSP
-0.25% Bond, High-Yield Corporate, HYG
-0.26% LargeCap Blend Russell 3000, IWV
-0.26% Value S&P 500 B, IVE
-0.27% REIT VIPERs, VNQ
-0.28% Bond, High-Yield Junk, JNK
-0.29% Value VIPERs, VTV
-0.30% Consumer Staples SPDR, XLP
-0.30% Capital Markets KWB ST, KCE
-0.32% Dividend Appreciation Vipers, VIG
-0.33% Semiconductor iS IGW, SOXX
-0.36% Realty Cohen & Steers, ICF
-0.36% Preferred Stock iS, PFF
-0.39% Materials SPDR, XLB
-0.40% Value 1000 Russell, IWD
-0.40% Global 100, IOO
-0.41% Belgium Index, EWK
-0.45% Value MidCap Russell, IWS
-0.47% Value LargeCap Dynamic PS, PWV
-0.50% Brazil Index, EWZ
-0.51% Dividend SPDR, SDY
-0.51% MidCap Russell, IWR
-0.52% Water Resources, PHO
-0.52% Agriculture DB PS, DBA
-0.53% Switzerland Index, EWL
-0.53% Bond EmrgMkt JPM iS, EMB
-0.53% EMU Europe Index, EZU
-0.55% Bond, Aggregate, AGG
-0.55% Austria Index, EWO
-0.55% Biotech SPDR, XBI
-0.56% Homebuilders SPDR, XHB
-0.57% Growth MidCap Russell, IWP
-0.65% Basic Materials DJ US, IYM
-0.65% Dividend DJ Select, DVY
-0.67% France Index, EWQ
-0.68% Growth SmallCap VIPERs, VBK
-0.68% Commodity Tracking, DBC
-0.69% Europe 350 S&P Index, IEV
-0.70% Value MidCap S&P 400 B, IJJ
-0.70% Singapore Index, EWS
-0.71% Microcap Russell, IWC
-0.72% Spain Index, EWP
-0.74% Value SmallCap VIPERS, VBR
-0.74% Value EAFE MSCI, EFV
-0.74% Growth MidCap 400 B, IJK
-0.75% Value SmallCap S&P 600 B, IJS
-0.76% Bond Ex-US Treas, BWX
-0.76% MidCap S&P 400 iS, IJH
-0.76% Latin Am 40, ILF
-0.76% MidCap S&P 400 SPDRs, MDY
-0.79% SmallCap S&P 600, IJR
-0.79% Small Cap VIPERs, VB
-0.80% Taiwan Index, EWT
-0.81% Growth SmallCap R 2000, IWO
-0.82% SmallCap Russell 2000, IWM
-0.82% Value SmallCap Russell 2000, IWN
-0.82% Growth BARRA Small Cap 600, IJT
-0.85% United Kingdom Index, EWU
-0.87% Oil Fund PowerShares, DBO
-0.87% Pacific VIPERs, VPL
-0.87% WilderHill Clean Energy PS, PBW
-0.87% Global ex US ACWI iS, ACWX
-0.88% European VIPERs, VGK
-0.88% EAFE Index, EFA
-0.93% Bond, TIPS, TIP
-0.93% Sweden Index, EWD
-0.93% Bond Muni ATM-Free S&P iS, MUB
-0.94% Thailand MSCI iS, THD
-0.96% Energy SPDR, XLE
-0.98% Energy VIPERs, VDE
-0.98% Hong Kong Index, EWH
-1.02% Telecom DJ US, IYZ
-1.02% Growth EAFE MSCI, EFG
-1.03% Oil, Crude, U.S. Oil Fund, USO
-1.04% Energy DJ, IYE
-1.06% Italy Index, EWI
-1.08% Networking, IGN
-1.09% Dividend International, PID
-1.13% Small Cap EAFE MSCI iS, SCZ
-1.14% Japan Index, EWJ
-1.14% Bond, 10 Year Treasury, IEF
-1.15% Australia Index, EWA
-1.16% Malaysia Index, EWM
-1.16% Energy Global, IXC
-1.19% Bond, Corp, LQD
-1.20% Pacific ex-Japan, EPP
-1.21% India Earnings WTree, EPI
-1.22% Mexico Index, EWW
-1.25% South Korea Index, EWY
-1.26% Dividend High Yield Equity PS, PEY
-1.28% Emerging 50 BLDRS, ADRE
-1.33% Chile MSCI iS, ECH
-1.36% Utilities VIPERs, VPU
-1.38% Transportation Av DJ, IYT
-1.42% Russia MV, RSX
-1.49% Utilities SPDR, XLU
-1.55% Energy & Nat Res iS GS, IGE
-1.57% Emerging Markets, EEM
-1.63% Canada Index, EWC
-1.68% Metals & Mining SPDR, XME
-1.68% Gold Shares S.T., GLD
-1.69% Emerging VIPERs, VWO
-1.88% India PS, PIN
-2.15% China LargeCap Growth G D H USX PS, PGJ
-2.22% South Africa Index, EZA
-2.52% Bond, 20+ Years Treasury, TLT
-3.07% Silver Trust iS, SLV
-3.23% China 25 iS, FXI
