Flat day but not really

The ProShares Technology Fund traded briskly again in the last few hours of the trading day. Volume was a little over 199,900 shares. I got a good strong buy signal on the fund today at a share price of $32.08, my desired entry point, instead I got greedy and decided to wait for a better price. WRONG! Fund price consolidated and headed higher for a high of $33.00. Greed is not good! I will try again tomorrow.

On another note, I've added the iShares Pharmaceutical Fund to our daily watch list. I am not to keen on the iShares etf products because they have performed so horribly. However, since the entire portfolio was sold to CVC Capital Partners for $4.4 billion, I believe the funds maybe making a comeback, a performance comeback I mean. Volume was almost non-existent on the iShares Pharmaceutical Fund, with under 25,000 shares traded today. I am not sure if I should recommend shorting this fund or buying it. I guess that's why its on the watch list.

06/09/09 09:03 PM

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