When I think of a beautiful island and the best sunset I have ever witnessed one place comes to mind - the Greek Isles.
Today 2 ETFs with direct links to this image are rallying from lows.
The Guggenheim Solar ETF (TAN) is up 16% after First Solar (FSLR) reported better than expected earnings projections for the year. As great as it sounds to use the sun to power everything in the world, I do not look at it as an investment opportunity. The sector has been crushed the last few years and TAN is trading down over 90% from the 2008 high. So a pop today is nothing more than a chance for investors who never sold to get out. I would not get sucked into the one-day rally.
The Global X FTSE Greece 20 ETF (GREK) is up 8% today as the fears over Cyprus and the continued bailout of Greece subsides for a day. Similar to TAN, the Greek ETF is bouncing off lows and I would not be chasing the one-day rally. The situation in Greece is far from over and could be a solid long-term play at some point in the future, just not yet.
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.
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