Mid-Day ETF Market Update: Dow Drops 300 Points

July 26, 2007 at 11:00 am by Tom Lydon

Etfs_decline The Dow Jones industrial average took a dive today and brought exchange traded funds (ETFs) down with it. It marks the second biggest drop of the year as the Dow dropped more than 300 points. Possible factors in the drop include continuing housing market troubles, rising energy prices, the declining value of the dollar, disappointing earnings report results and credit concerns.

The Russell 2000 Index and the ETF that tracks it iShares Russell 2000 Index (IWM) also suffered from the market’s decline. Small-cap stocks fell below their trend lines (200-day moving average), as shown in the chart below.

Iwm_etf

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    • Jack McElroy: I don’t understand the Subject Line for this brief writeup—it doesn’t make sense. It...
    • Tom Lydon: Hi Tom, If a fund drops below its 50-day or 8% off the recent high (whichever comes first), we sell. When...
    • Tom Lydon: Hi George, Short and leveraged ETFs do what they’re supposed to do on a daily basis, but over the...
    • Tom: Do you sell back out of the fund if it falls back below it’s 50-day? How many times will you move in and...
    • Forone: The financials are going to be subject to year-end audits, by auditors on their best behavior in front of the...

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