ETF Outlook for Wednesday, June 4, 2014
SPDR Gold ETF (NYSE: GLD)
Shares of gold broke a six-session losing streak on Tuesday with a modest gain of 0.3 percent. Before the midday rally the ETF hit the lowest level since January as investors do not view the precious metal as a portfolio holding when the stock market is hitting new all-time highs.
The trend is definitely lower for gold, but in the very short-term the ETF is extremely oversold and a rally from the current level could be possible in the coming days.
Market Vectors Gaming ETF (NYSE: BJK)
The ETF was one of the worst performing sector ETFs on Tuesday with a drop of 1.5 percent. News out of the Far East gambling mecca Macau hurt stocks after growth ...
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