no volume because no one knows about these ETFs yet, everyone is trading QID instead of the individual sector ETFs. Havent traded any of those yet, still holding a bunch of QID and bought some QLD on the drop below 78 today for a swingtrade. As for the financial ETF, cramer said that the financials were done going down, I disagree, I think there is plenty of room to fall even more. SMN did have a nice selloff before going into last tuesday, dropped below 63 than ran up to 70+
I am firmly in non-discretionary camp, like gasoline/crude oil. I hate financials and discretionary consumer anything. Long oil and oil refiners!!!
15:05 NEW New Century Mortgage residential primary servicer rating downgraded at Fitch (5.40 +0.38) -Update- Fitch Ratings downgrades New Century Mortgage Corporation's, a subsidiary of New Century Financial Corp. (NEW), residential primary servicer rating for subprime product to 'RPS4' from 'RPS3+', and places the rating on Watch Negative. The rating action reflects uncertainties over NEW's ability to maintain adequate funding and remain viable over the near term. even w/bsc up 1.72, Skf is up .18.