Keep an eye on the networking stocks today after Finisar (FNSR) reported terrible news in regards to orders out of China. The stock is down over 35% pre-market and its peers are following the trend.
Ciena (CIEN) and JDS Uniphase are both losing over 10% in pre-market trading and this should weigh heavily on the iShares S&P Networking Index ETF (IGN) that counts JSDU as one of its top holdings. A pullback to $36 for the ETF could turn into a buying opportunity. Yesterday it closed at $37.43.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
Wednesday, March 9, 2011
Friday, March 4, 2011
New Website
This is my first blog entry for the new website that will be launching at some point in March. Either myself or a team member at PFG will be updating the blog throughout the day when we feel important moves are being made in the market.
Today the big move has been oil trading above $104 for the first time in over 2 years as the tensions in Libya continue to escalate. ETFs that track oil are surging: USO, DBO, USL, BNO, etc.
Other stocks on the move to the upside today as the overall market falls are JDSU, WWWW, ARUN, RVBD, CRR, FTNT, and AH.
Have a great weekend
Matt
Today the big move has been oil trading above $104 for the first time in over 2 years as the tensions in Libya continue to escalate. ETFs that track oil are surging: USO, DBO, USL, BNO, etc.
Other stocks on the move to the upside today as the overall market falls are JDSU, WWWW, ARUN, RVBD, CRR, FTNT, and AH.
Have a great weekend
Matt
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