ETFs on the Move

Scanning through a list of ETFs last night brought up the following that I found interesting. What I was looking for was two things; first, an uptrend that never really broke, but is consolidating and second, a positive trend in a negative market. Sounded simple enough, but the list was rather small when I was done. Below is what I added to my watch list for now.  

HMOs - IHF, Dow Jones Healthcare Provides ETF

The uptrend off the November low was never really broken it just moved into a consolidation or trading range. The bounce off the 50 day moving average was positive and yesterday's move above the 20 day moving average on above average volume caught my eye as a potential plays.

 

 

Internet - IAH, Internet Architecture HOLDRs ETF

Solid bounce off support near $30. The move higher is going to either complete a head and shoulders pattern or break to the upside and take out the January high. I am looking for the latter. Taking out the January high and moving towards $36 is the opportunity short term.

 

 

Networking - iShares GS Networking ETF

Bounced off support at $15.90 and moving higher on earnings data. That gives a fundamental boost the sector and worth watching to see if the trend higher continues. Taking out the January high is the next course of action. Target is $21 if the move continues.

 

 

 

Computer Hardware - The AMEX Computer Hardware Index

There is not an ETF for this index, but the trend is worth watching. Drilling into the index you find leadership from the movers are Cisco, Palm, 3Com, etc. In addition semiconductors are moving the sector as well. EZChip (EZCH) is one that caught my eye with a solid uptrend in play. Worth watching the components here of semiconductors, storage and networking.

  

 

 

Precious Metals - PHLX Gold and Silver Index

The chart shows the uptrend in play since the low in November. While the move has been volatile it is higher none-the-less. GLD and SLV are two ETFs that allow you to play both gold and silver and they are both in a current uptrend. Gold broke through resistance at $900 this week and continues to look bullish short term.

 

 

 

The goal is to put charts like these on a watch list and play them accordingly. The key is to have a strategy for each based on your risk tolerance and objectives. Use any pullbacks and testing of support as entry points. These present short term opportunities that could extend longer term, but for now they are worth keeping an eye on for potential plays.