Tuesday, January 22, 2008

Materials sector still noble

Investors looking for direction in the current market disarray should review the sector trend strengths evident in the exchange traded funds reports posted at Stock Trends. The relative strength of materials stocks, despite the haircut the sector has suffered in recent sessions, is still a steady railing. Toronto Stock Exchange listed funds that stand out currently include Claymore Global Agriculture Fund (TSX:COW), iShares COMEX Gold Fund (TSX:IGT), Horizons BetaPro Global Gold Bull Plus Fund (TSX:HGU), iShares S&P/TSX Global Gold Fund (TSX:XGD), and the iShares S&P/TSX Materials Fund (TSX:XMA). Look for a rebound in these funds as equity markets stabilize. XMA recovered 6.7% today to close at $36.48, sitting perhaps not coincidentally at the ETF's 13-week moving average trend line. Volatility has made this a rough ride, but sticking with the commodity play should be rewarding.
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