Thanksgiving week didn’t get started with much to be thankful for on Monday as volatility decided to crash the pre-Turkey Day festivities, but with still three market sessions left in this short week, a rally could be brewing.
The Dow Jones Industrial Average fell 395 points Monday as technology names like Nvidia and Salesforce.com weighed heavily on the sector. The S&P 500 and Nasdaq Composite didn’t fare much better with both falling 45 points and over 200 points, respectively.
Apple and semiconductors dragged down the Nasdaq as it shed 3% on Monday, dipping the index deeper into correction territory.
“People put a lot of faith in tech companies to drive the markets higher, and to the extent that’s not happening, that’s very disappointing,” said Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance. “We’d need to see bullish company specific news from one of the tech megacaps for investors to drive the prices higher, or we’d need the Fed to take a pause, or fear of a global growth slowdown to ease. We’re not seeing that.”
All in all, the doom and gloom inundating the markets is akin to seeing family members reconvene on Thanksgiving–amidst all the bickering, you also remember the good times and as such, here are some exchange-traded funds (ETFs) from various sectors to be thankful for thus far this year.
1. ProShares Ultra Bloomberg Natural Gas (NYSEArca: BOIL)
After years of a supply glut, natural gas has fallen back into investors’ favor, punishing short sellers in the process as natural gas prices have spiked on reduced supply this winter season. This, of course, has been a boon to BOIL, whichh as gained 68.89% year-to-date.
BOIL seeks results for a single day that match two times the daily performance of the Bloomberg Natural Gas SubindexSM. The fund seeks to meet their investment objectives by investing under normal market conditions in Natural Gas futures contracts.
BOIL may also invest in swaps if the market for a specific futures contract experiences emergencies or disruptions that would prevent or make it impractical for such fund to obtain the appropriate amount of investment exposure to the affected Natural Gas futures contracts directly.
2. Direxion Daily Jr Gold Miners Bear 3X ETF (NYSEArca: JDST)
Rising rates have contributed to a rising dollar, dulling the luster of gold thus far in 2018. Not a problem for JDST, which has returned 43.43% YTD.