Sunday, February 7, 2010

Top 30 Most Attractive ETFs to Buy and To Sell out of 800+ ETFs

The recent market drop had caused significant changes in the valuation and the relative strength values of ETFs.

We computed the relative strength levels of all ETFs on the market. These values provide a very good indication of overbought and oversold levels.

By looking at the daily, weekly, and monthly values an investor can select the appropriate investment horizon, short term, medium term, and long term respectively.

Here they are ordered by RSI daily (short term), for 60 ETFs, 30 oversold and 30 overbought.

Top 30 Most Oversold:

With a daily RSI of 6.24, which is near a record low in recent memory, EMB is the most oversold in the short term, it represents Emerging Markets Bonds.

Next is the PNXQ, which I only mention because it is a rather interesting ETF that tracks NASDAQ Q-50 index, designed to track the performance of the 50 securities that are next in line to replace the securities included in the NASDAQ-100 Index. PNXQ is very illiquid.

Following those we have EU, a Euro tracking ETF. This is a sign of the recent troubles and concerns over European nations.

Top 30 Most Overbought:

In the most overbought category we have EUO, which is an ultra short Euro ETF.

2nd most overbought at the moment is ZSL, an ultra short silver.

Note: You may receive technical analysis and alerts of these stocks, sent automatically to you, by entering the symbols in the Technical Trend Analysis Tool, (powered by INO).

Here are all the ETF names and their average trading volumes (as reported by Google):

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