Four ETFs on the Move: USO, GLD, XRT, XLI, GE
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By: Billy Fisher
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The lack of conviction the market has displayed in moving up or down over the past few trading sessions has made for an intriguing trading environment. The manic swings that have been occurring have opened the door for a number of trading opportunities. Exchange traded funds have become a popular way to play these swings. Commodity and sector focused ETFs in particular have proven to be quite practical for such bets. Here are four ETFs on the move right now.
Century Mark
The United States Oil Fund (NYSE: USO) has rallied 13.5% over the course of the past month as the price of crude oil inches higher. The price of West Texas Intermediate was just shy of the century mark on Wednesday morning or $99.58 a barrel for December delivery.
The fundamentals support a push higher. Analysts are expecting the Department of Energy to reveal that oil inventories dropped by 800,000 barrels in its weekly petroleum report. Supplies in the Midwest have come into focus as they are now down 5.6% since the beginning of the year.
Shares of the SPDR Gold Trust (NYSE: GLD) are up 6.1% since this time last month as gold prices are making a run back towards $1,800 an ounce. It has been revealed that John Paulson cut his stake in GLD by 36% last quarter. In the short term, a stronger dollar could present some headwind for the precious metal.
Retail Resilience
The SPDR S&P Retail ETF (NYSE: XRT) has also been moving up the charts. The fund now sits 4.8% above where it was thirty days ago. A report from the Department of Commerce yesterday gave some added confidence to shareholders of this ETF.
Retail sales rose 0.5% during the month of October, marking the fifth consecutive month of a move upwards. Healthy consumer spending has fueled the largest quarterly expansion of the economy in the last year.
One other ETF that is on the move is the Industrial Select Sector SPDR Fund (NYSE: XLI). The fund has risen 5.2% during the last four weeks. Yesterday, technology and industrial stocks were the two biggest winners among the ten groups contained in the S&P 500. Not all industrial stocks have been winners though. General Electric (NYSE: GE), the largest holding of XLI, has moved lower during the last thirty days and is down 11.4% year-to-date.
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