Holiday Buying and An ETF on the Rise

DBA ETF Chart
Markets were able to put on a big rally to end the week in the close having the Dow close up almost 20 points, after being in red for the entire day. Bulls are looking to finish out the year strong (as they usually do) as shopping malls look crowded, the noise of cash registers opening are filling stores, and consumers seem to be much more positive this year, looking forward, then they were last year. Whether they have good reason to be, is still yet to be seen, but at any rate, Wall Street should benefit from it here in the short term.

I am always looking for good plays in our current economy, because it still remains a unique one and could change its face at any time. One ETF I have been eyeing has a strong upward trend and has been performing, and should continue to perform quite well. This is the PowerShares DB Agriculture Fund (DBA), which is mostly comprised of the most liquid and most traded agriculture commodities (corn, wheat, cattle, etc).

As you can see from the chart above, it has put on some good momentum in the last couple days. I think we may see it pull back a bit near the $30.05 range, but if the stock can stay at that first support level and bounce back, I believe we will see some great gains from it. Either way, like gold, it is a good one for me to stock away, as commodities are a good hedge against inflation.

We should see things begin to heat up in the market next week, as that year end date grows near and hedge funds become a bit more antsy. Happy Trading.

2 comments:

  1. Lin Lin Says:

    Hello FF,

    You should post more... I use to see updates every day you update this blog once every 2 weeks... I guess we all are busy.

    I got a question FF. What do you use to keep track of the CPI data? Is there a website you go to? I am trying to look for a scheduled annoucement for economic releases. I.E. Housing, Retail, CPI, Interest Rates, etc. etc. Do you have all of these dates on a calendar of yours?

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