Monday, April 26, 2010

Top 20 ETFs to Buy and To Sell - Out of 800 ETFs

Update for week of April 26. We computed the relative strength values of all ETFs that trade in the U.S. This indicator gives an excellent assessment of whether an ETF is overbought (in general, values over 70) or oversold (values below 30).

Here they are, sorted by our favorite, RSIA, which is an average of short, medium and long time frames:

Top 20 Most Oversold:

There are a number of extremely oversold ETFs: SBB, SCC, MYY, RWM, and several others (please click on each link to receive buy/sell alerts and analysis of each).

SBB is ultra short on small cap companies, SCC is ultra short consumer services, MYY is ultra short mid cap, and RWM is a short on the Russel 2000. All these are shorts, and they are oversold, meaning the market is deeply overbought.

Top 20 Most overbought:

There are also a several extremely overbought ETFs. The worst offenders are: UYG, URE, GLL, and PEJ. Notably, UYG, the ultra long financials ETF had all three timeframes above 90, quite amazing; URE is an ultra long on real-estate. GLL is ultra-short gold

For your convenience, here are the ETF names and their average daily volume:

(please click to enlarge)

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).Please do your own due diligence.

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