TradingMarkets 7 ETFs You Need to Know for Wednesday
Oversold extremes again led to massive buying across all sectors on Tuesday, leaving only the bond exchange-traded funds among those most oversold ahead of trading on Wednesday. A number of country funds, such as the iShares MSCI Taiwan Index Fund ETF (NYSE:EWT – News), that had earned top ETF PowerRatings going into Tuesday’s trading made significant gains on the day.
From a sector perspective, buyers were most aggressive in Materials and and Energies. Up more than 4% and crossing back above the 200-day moving average on Tuesday was the ProShares Ultra Oil & Gas ETF (NYSE:DIG – News), while the ProShares Ultra Basic Materials ETF (NYSE:UYM – News) soared by more than 6%.
Find out more about what ETF PowerRatings can do for you and your trading. Click here to launch your free, 7-day trial to our ETF PowerRatings today. [Read the full article]
Another full plate of earnings awaits investors midweek as the stock market digests its aggressive gains Tuesday evening. Stocks roared to life today on the heels of extremely bullish International news. The European Union may extend a helping hand to economically stricken Greece triggering sharp worldwide stocks and commodity advances. The DJIA closed higher by 150.25, the Nasdaq added 24.82, and the S&P 500 climbed by 13.78.
Dean Foods Company (NYSE:DF – News) is expecting an EPS of 38 cents prior to the open. The Stock PowerRating for DF is 5.
Clothing company, Jones Apparel Group (NYSE:JNY – News), has analysts awaiting 11 cents/share before the open. The Stock PowerRating for JNY is 8.
Caterpillar (NYSE:CAT – News) won a coveted Morgan Stanley upgrade. The Stock PowerRating for CAT is 8.
Newspaper kingpin, New York Times (NYSE:NYT – News), is projecting a before the bell EPS of 41 cents. The Stock PowerRating for NYT is 8. [Read the full article]
Dan Passarelli is the author of the book Trading Option Greeks and founder and CEO of Market Taker Mentoring LLC. Passarelli began his trading career trading on the floors of the Chicago Board Options Exchange and the Chicago Board of Trade making markets in options. He regularly shares trading insights and educational tips in his options blog at markettaker.com/options_blog/. Dan can be reached through his website at MarketTaker.com and can also be followed on Twitter at twitter.com/Dan_Passarelli.
Yesterday’s option action on the 1/100 Dow Jones Industrial Average index (DJX) took a decided bearish tone, which could be understandable thanks to the negative tilt of the day’s trading action. In total, 4,729 puts exchanged hands while 3,327 calls were traded. This action results in a put/call ratio of 1.42. In contrast, last Friday’s action saw 6,121 calls cross the tape compared to 22,464 puts. This subsequent put/call ratio was 3.67. [Read the full article]