ETF/No Load Fund Tracker Newsletter For Friday, May 18, 2012

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ETF/No Load Fund Tracker StatSheet

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THE LINK TO OUR CURRENT ETF/MUTUAL FUND STATSHEET IS:

https://theetfbully.com/2012/05/weekly-statsheet-for-the-etfno-load-fund-tracker-newsletter-updated-through-05172012/

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Market Commentary

Friday, May 18, 2012

US STOCKS EXTEND LOSSES AS FACEBOOK EUPHORIA EVAPORATES; VXX GAINS, KCE SINKS

US stocks closed lower Friday with the broad markets closing out the worst week of the year. Despite Facebook’s much talked about IPO today, shares of the social networking site barely rose above the offering price.

Investors remained wary of the markets as latest reports suggested the European Central Bank and the European Council are preparing for Athens’ eventual exit from the European Union. The nation’s banking sector has come under added stress as many depositors have withdrawn money fearing forced conversion of the currency if eased out of EU.

The benchmark US Treasury changed little after coming close to a record low level ahead of next week’s $99 billion coupon-bearing debt auction.

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Weekly StatSheet For The ETF/No Load Fund Tracker Newsletter – Updated Through 05/17/2012

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ETF/Mutual Fund Data updated through Thursday, May 17, 2012

If you are not familiar with some of the terminology used, please see the Glossary of Terms.

 

1. DOMESTIC EQUITY MUTUAL FUNDS/ETFs: BUY — since 10/25/2011

The domestic TTI broke through its long-term trend line generating a Sell for this area effective 8/9/2011. Over the recent past, we’ve seen the TTI hovering slightly below and above this dividing line between bullish and bearish territory. The clear break to the upside occurred on 10/24/11 and, effective 10/25/11, a new Buy signal for domestic equities went into effect.

As of today, our Trend Tracking Index (TTI—green line in above chart) has broken above its long term trend line (red) by +1.84%. Be sure to tune into my blog for the latest updates.

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Major Market ETFs Extend Losses On Weak Economic Data; GDX Soars, IWM Slips

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[Chart courtesy of MarketWatch.com]

Major market ETFs got spanked on Thursday closing lower for the fifth straight day with the Dow industrials retreating for the 11th out of 12 sessions when the Philly Fed manufacturing index contracted unexpectedly to -5.8 in May from 8.5 in April as export growth slowed.

Treasury 10-year yields headed towards record lows as Greece’s future membership in the single-currency union continues to spook investors, spurring demand for safe haven US assets.

The Dow Jones Industrial Average (DJIA) tumbled 156.06 points, and the S&P 500 Index (SPX) slipped 1.5 percent, its lowest in four months. Consumer discretionary  fared the worst among the index’s 10 business groups.

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US Stocks End Lower Despite Decent Economic Data; UNG Jumps, PSTL Slides

Ulli Market Review Contact

[Chart courtesy of MarketWatch.com]

Robust US economic data on factory output and housing failed to halt the broad slide as US stocks closed lower Wednesday for the fourth straight trading session. Though the day had started off strongly, but concerns over Greece weighed on investor sentiments and down we went.

Yield on the benchmark 10-year Treasuries sank to a seven-month low after the US Federal Reserve said further intervention can’t be ruled out to maintain the growth momentum while the European Central Bank announced it would suspend some operations with Greek banks.

After surging 90 points earlier, the Dow Jones Industrial Average (DJIA) shed 33.45 points to settle at 12,598.33, the lowest level since Jan 18.

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Delayed Posting

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I will  be traveling over the next few days, including the weekend, and will return late Monday.

I should be able to get most posts out on time, with the exception of today’s market commentary. I anticipate to be able to have it online by around 8 PM PST.

Ulli…

 

7 ETF Model Portfolios You Can Use – Updated through 5/15/2012

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Continued weakness caused by Europe’s uncertainties pulled the S&P 500 down another -2.4% since last week’s ETF Model Portfolio update.

Besides the fear of contagion from the Greek debt crisis along with no current government and new elections slated for June 16, markets are faced with having to deal with the lack of concrete solutions in sight.

Not helping matters domestically was JPM’s sudden and unexpected $2 billion trading loss, which just underscores the fact that derivatives trading and risk management are two things that don’t necessarily function in tandem. There will be much more fallout in my opinion.

Today’s after hours surprise came from JC Penny, which posted a loss, with shares trading down by some 13%. My point is that momentum is slowing, and you’d be well advised to pay attention to your trailing sell stops.

Here’s the latest update:

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