Week in Review 8/18/06

What’s up with tech?  Technology led the broad indices to very impressive one week gains.  The DOW, S&P 500 and NASDAQ were up 5.9%, 2.7% and  5.2% respectively for the week.  All pale in comparison to the Semiconductor Index (SOX) which was up 10.0% for the week.  There is an old adage on Wall Street that technology leads the market and semiconductors lead technology.  If that proves to be the case we could be on the verge of sector rotation out of resource stocks into the broad market.  Gold and oil took it on the chin and was down 2.7% and 5.1% respectively for the week. However, base metals represented by the Big Build-Out basket were up 2.3% for the week.

Below are this week’s results of our regularly discussed stocks:

  WEEK YTD
DOW 2.6% 6.2%
S&P 500 2.8% 4.3%
NASDAQ 5.2% -1.9%
SOX 10.0% -7.0%
GLD -2.2% 18.3%
GDX -0.8%  
CEF -1.9% 29.5%
USO -5.1%  
PHO 3.6% 10.9
BRIC 2.1% 20.7%
BBO 2.3% 30.0%

SOX –  Semiconductor Index
GLD – Gold Bullion Exchange Traded Fund (ETF)
GDX – Gold Mining Stocks ETF
CEF – Gold and Silver Bullion ETF
USO – Oil ETF
PHO – Water Resources ETF
BRIC – basket of 4 country ETFs: Brazil, Russia, India and China
BBO (Big-Build Out) – basket of 12 stocks critical to the industrialization of BRIC

Refer to the following links for more information on above stocks.

GDX, CEF: Link
USO: Link
BRIC, BBO: Link

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