ETF Outlook for Wednesday, April 30, 2014:
Global X Social Media ETF (NYSE: SOCL)
Shares of nearly every social media-related stock are lower Wednesday morning after Twitter (NYSE: TWTR)reported quarterly earnings that were not met with enthusiasm.
The stock is down over 10 percent in early morning trading to the lowest level since it went public last year. The black cloud that has been hanging over the social media niche sector has just gotten bigger and SOCL is set for big losses to begin the trading day. The only support in the near-term for SOCL is the low of Monday at $16.60, below that the ETF could see the high $14 level.
SPDR Technology ETF (NYSE: XLK)
The TWTR debacle on top of eBay (NASDAQ: EBAY) lower by nearly ...
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