RSSApril Had Some Shining Stars in the ETF Universe
By Tom Lydon | May 01, 2008 | 6:05 PM | 0 Comments
In April, the markets seemed to hold onto its gains, and even add some extra. While some areas, notably gold, were down, overall, many of the ETFs we track ended up in positive territory.
China seemed to be the biggest success story last month. Chinese government officials refuse to accept the slowdown that affected the country for the first few months of the year. Officials cut the stamp tax rate - tax on the purchase or sale of stocks - from 0.3% to 0.1%. Institutional investors buying or selling 100,000 or more shares are now required to do it privately to reduce volume moves.
Only time will tell what May brings. But if you decide that the water's safe, find those areas that are performing and residing above their trend lines. If they continue to move higher, great. If they drop below their 200-day moving average or 8% off their highs, sell.
Among the strongest performers across the countries and sectors for the month of April were:
iShares MSCI Austria (EWO), up 10.2% for the month
iShares FTSE/Xinhua China 25 (FXI), up 17.2%
PowerShares Golden Dragon Halter USX China (PGJ), up 15.3%
SPDR S&P China (GXC), up 17.4%
Claymore/BNY BRIC (EEB), up 16.2%
iShares MSCI Brazil (EWZ), up 17.3%
iShares MSCI South Africa (EZA), up 11.1%
iShares Dow Jones US Oil Equipment (IEZ), up 12.5%
United States Oil (USO), up 13.6%
Market Vectors Steel (SLX), up 12.3%
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