TechCheck Scan ETF Universe
Source: http://feedproxy.google.com/~r/qvmgroup/yrMF/~3/d1hIvCKmz3k/4008Posted on Monday, May 18th, 2009 | In Market Commentary
We recently scanned the 800+ ETFs for those that trade at least $1 million per day. There were 270 of them. Today we scanned that list of 270 for those that exhibit strong upward price pressure in the form of the price, the 5-week average, the 10-week average and the 20-week average all being above the 40-week average.
There are 35 ETFs overall showing that condition; 12 with a downward sloping 40-week average, and 23 with an upward sloping 40-week average.
Here they are:
click images to enlarge
12 with Negative Slope 40-Week Average
23 with Positive Slope 40-Week Average
For discussion of the significance of and potential use for this sort of data, see two prior articles:
Role of the 200-Day Average In Risk Management
15 Point “TechCheck” for 52 ETFs
Note well please that there is no substitute for having a solid fundamental idea as to what you wish to own, why you wish to own it and how much of it you should own, before consideration of when buying it makes sense.
The sort of chart screening provided in this article is the last step, not the first step, in putting together a portfolio. Once you have the fundamental issues worked out, we believe buying the desired assets when they are rising in price is more prudent than buying them when they are falling in price.
The filtered lists in this article both have strong upward price pressure and recent price increases. The list with a rising 40-week average is in an up trend. The list with a falling 40-week average is in a down trend that may be turning up.
There are 158 ETFs among the 270 that have a negative slope 40-week average and with each of the price, the 5-week, the 10-week and the 20-week averages below the 40-week average. The other 77 are in some intermediate condition.
Richard Shaw
QVM Group LLC
Last 5 posts by Richard Shaw
- Quality Individual U.S. Companies - November 7th, 2009
- “China Up / U.S. Down” Theme Checkup - November 2nd, 2009
- Healthcare Co. Profits Sensitivity to Obamacare - October 29th, 2009
- Less Than Good News from Germany - October 25th, 2009
- U.S. Budget Debt History and Projections - October 24th, 2009
 About Richard Shaw (http://www.QVMgroup.com)
Richard is a principal of QVM Group LLC, a fee-based investment advisor based in Connecticut with clients across the country. He provides investment coaching to "do-it-yourself" investors, and manages portfolios for those who prefer not to make their own decisions. His investment approach is based on value, asset allocation, benchmarking, expense control, risk management, customizing portfolios to each client's specific circumstances, and regular communication about strategy and performance. The QVM Group team also provides municipal refinance services, strategic business planning and financial analysis service for new ventures, private acquisition analysis, and custom investment research. Richard's extensive experience, includes serving on the Board of Directors of Aberdeen Asset Management PLC (London Stock Exchange: ADN), membership on the Board of Directors of Phoenix Investment Counsel (renamed Virtus Investment Advisors), a U.S. pension manager and investment advisor to the Phoenix Funds (renamed Virtus Funds), as well as serving as Managing Director of a series of offshore investment funds based in Luxembourg. He has led institutional asset management sales and had overall responsibility for management of a U.S. mutual funds broker-dealer. He was a charter investor and member of the Board of Directors of several internet companies, including Lending Tree prior to its IPO. He is a graduate of Dartmouth College. QVM Group LLC is a Registered Investment Advisor. Visit the QVM Group website http://www.qvmgroup.com/QVMinvest/ |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.