Natural gas, gold, silver and India are gaining momentum | stockbee

10/03/2012

Natural gas, gold, silver and India are gaining momentum

Markets opened strong and ended up giving gains and going negative for rest of the day. Last one hour saw a bit of buying. End result was small gain on some indexes. This is a repeat of what happened just day ago. From September 25 onward every rally attempt has faded. The downside momentum however has not been strong. As a result the market is going sideways in a narrow range.

Individual stocks have a different story based on catalyst and sector. Some stocks have gone down a lot during last month. Stocks like INTC, BIDU, MSCI, CLB, JCP, HPQ, GMCR, NSC, STX, BBY, X and so on have been lagging the market. While stocks like PCS, KBH, CRDN, LEAP, JAZZ, CVI, WAC and the likes have done well.

The market is waiting for next set of catalyst. The rally was driven by hope of Europe stabilization and Fed action. The European markets were the best performing markets in last couple of month. The beaten down markets like that of Spain and Italy made big move coming out of bottom. The Emerging markets are showing some life. The Indian market driven ETFs like EPI and PIN have made big moves in last few weeks.

On the commodity side the Gold, silver and natural gas ETF have been best performers. The top 30 ETF ranked by momentum are all dominated by them. Many of these ETF are consolidating near high and likely to make another up move once the consolidation is over.

Top Ranked ETF by momentum:


  1. ugaz
  2. nugt
  3. uslv
  4. boil
  5. agq
  6. sil
  7. ung
  8. xiv
  9. svxy
  10. gdxj
  11. gdx
  12. slv
  13. pslv
  14. dgp
  15. epi
  16. soxs
  17. pin
  18. dbb
  19. edc
  20. urty

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