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Matching Up Apples to Apples

5/18/2008 11:20:28 AM

Welcome Subscribers

Market Outlook/Potential Opportunities:

Sunday Breifing

Matching Up Apples to Apples

Some ETF's do not have a lot of historical data yet. If they are commodity based, then you can look at the commodity itself and get a glimpse of what the ETF might do. A good example is the trade we made in COW. Now if you ever traded the meat markets, you know that they are probably the toughest markets out there to trade. I would not recommend a futures position in any of them. But looking at the futures does lead me to believe that COW could go higher, even if we are a little bit behind on the trade. Another example of this, and one ETF that I am watching is Powershares DBA grains. It is looking like a possible buy here at 36.90. Now looking at grain prices, it appears that soybeans are poised to move higher, but corn, wheat, rice and oats are not. Still I am watching this trade to see how it unfolds.

Trade Actions:

I have four new recommendations for today.

Remember the last article on PAL. I know it would be nice to buy at our price, but I am going to recommend buying one position @ the market. It is trading @ 6.74. We will then add a second position @ 5.75 or better. I normally do not like to average down on trades, but the price and potential on this ETF warrants that we do this.

Another commodity ETF is flashing a buy. We need to buy Claymore CGW Global Water @ the market. There is all this talk of a water shortage. The charts are telling me that there might be something to this story.

Powershares DBB Base Metals. We want to be a buying on a Limit Order of 25.60

Xshares Healthcare HHJ Emerging Cancer. We want to have a Buy Stop at 16.50. If it breaks above that level, it should move up very good.

Stay the course on NRL and EWT.

Any questions and you can contact me at bill@stockbarometer.com.

Thank You

 

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