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ETF Preview: Tech Funds Getting Boost from Amazon.com Spending, Retail ETFs Finding Little New Traction Though Early Sales Data Positive

 November 29, 2010 08:54 AM

Active broad-market exchange-traded funds in Friday's regular session:

SPDR S&P 500 (SPY): -1.2%

iShares S&P 500 (IVV): -1.1%

PowerShares QQQ (QQQQ): -0.7%

iShares Russell 2000 (IWM): -0.7%

iShares Russell 1000 Growth (IWF): -0.7%

iShares MSCI Emerging Markets Index (EEM): -2.5%

United States Oil Fund (USO): -0.2%

SPDR Gold Shares (GLD): -0.8%

Select Financial Sector SPDRS (XLF): -1.4%

Top Pre-Market Volume Movers:

SPY, -0.1%

IWM, -0.3%

QQQQ, -0.2%

TZA, +1.1%

SDS, +0.4%

Winners and Losers

Major broad-market ETFs, including the SPY, DIA, IWM and others, are narrowly mixed as futures trading has turned modest early gains into choppy trading at last check. The actively traded Nasdaq-focused PowerShares QQQ (QQQQ) is down 0.1%.

Bullish broad-market ETFs and futures on major stock indexes were off to a solidly firmer start early Monday, but are now mixed. Investors give a favorable reaction to weekend holiday retail results. Major European markets gained initially but that rally fizzled. A multi-lateral 85 billion euro ($113 billion) bailout package for Ireland only briefly lifted sentiment.

The Direxion Daily Small Cap Bull 3X (TNA) is down 1.2%, so far ranging between 58 and 60.30. Ultra QQQ (QLD) is down 0.4%, ranging between 75.77 and 76.94. Ultra S&P 500 (SSO) is down 0.4%, ranging between 43.05 and 42.27.

The Direxion Daily Small Cap Bear 3X (TZA) is up 1.4%, ranging between 19.15 and 19.86. Actively traded Proshares Ultrashort S&P 500 (SDS) is up 0.5%, ranging between 26.75 and 27.18, while Proshares Ultrapro Short S&P 500 (SPXU) is up 0.8%, ranging between 23.36 to 23.77.

Financials -

Select Financial Sector SPDRs (XLF) is up 0.1%. The Direxion Financial Bull 3X fund (FAS) is down 0.1%; its bearish counterpart, FAZ, is up 0.2%. Among active issues: C, +0.2%; BAC, +0.2%; IRE, +20%; AIB, +9.8%.

- Volatile Irish banks are up sharply in U.S. pre-market trading, continuing the firm response on display in their local market Monday in reaction to the weekend announcement of financial aid.

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