Saturday, February 14, 2009

ETF Rewind - Week 7 (02/13/09)

(Click Image to Enlarge/ Glossary)

If Treasury Secretary Geithner's "Bad Bank" presentation last week was its focal point, you might have called it "The Week that Wasn't." Week Seven took back prior gains and then some, leaving the S&P500 (SPY) down -4.9%. In fact, among the tracked securities, only Precious Metals (DBP), Treasury Bonds (TLT) and the Dollar (UUP) managed to post gains of +3.2%, +0.1% and +0.7%, respectively.

Holiday shortened Week Eight of 2009 features the following busy reporting calendars, including housing data, release of the latest FOMC minutes and leading indicators:

Looking ahead, traders will naturally keep a close eye on how the market responds to the signing into law of the $787M stimulus plan (AP - Obama Savors Win), and the signaled home loan relief proposals. Whatever they are, hopefully they will have some semblance of finalized substance minus pork this go. Note below how price action has a lot of room to run to the upside on the right news flow. Enjoy your long weekend!

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