Notable ETF Movers of the Day 11/04: GLD, XLE, SPY Higher; VXX, UUP, UNG Lower

• SPDR Gold Shares (NYSE: GLD) up 2.23% to $134.50. As inflation fears set in on a weakening dollar, due to the Fed's move to increase cash in the sytem, investors are turning to gold as a hedge against the currency fluctuations. December 10 contracts, the most actively traded, are up $41.8/ounce to $1379.4/ounce on the Comex.
  
  
• Energy Select Sector SPDR (NYSE: XLE) up 2.55% to $61.62. Up along with the broader rally, although the ETF is also being helped out by Apache Corp. (NYSE: APA), who is trading higher following a third quarter that saw a 74% increase in profits for the company. Production for Apache also increased 10% to 667,460 berrels per day. EOG Resources (NYSE: EOG) is down today following Goldman Sachs removing the company from their Conviction Buy List, and cutting their price target from $129 to $110.
  
  
• SPDR S&P 500 (NYSE: SPY) up 1.45% to
  $121.69 and PowerShares QQQ (Nasdaq: QQQQ) up 1.24% to $53.68. Markets are moving higher today as the prospect of Bush tax cuts being extended is pricing in, following the GOP taking back the majority in the Senate in elections earlier this week.

• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 5.72% to $11.38. The CBOE VIX is trading lower as investors buy into the market on prospects of further QE and extended tax cuts. The VIX is 6.54% lower in afternoon trading.
  
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.77% to $21.97. Bullish sentiment in the market coupled with the Fed's quantitative easing announcement yesterday are causing investors to flee from the U.S. dollar.
  
  
• United States Natural Gas (NYSE: UNG) down 1.63% to $5.43. Lower today as the EIA reports a gain in stockpiles of 67 billion cubic feet for the week ended October 29, 2010. Analysts were looking for a more modest gain of 63 - 64 Bcf.

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