Notable ETF Movers of the Day 02/08: (VXX) (SMH) (FXI) Higher; (USO) (GLD) Lower

• iPath S&P 500 VIX Short Term Fu (NYSE: VXX) up 2.25 percent to $24.49. The CBOE VIX is trading a little higher as uncertainty from Greece grips the market once again. Greece's Prime Minister Lucas Papademos and the troika are meeting following delay-after-delay to reach a debt deal with its creditors aimed at securing another round of bailout funds. The VIX is up 3.5 percent Tuesday.
  
  
• Market Vectors Semiconductor (NYSE: SMH) up 0.49 percent to $34.53. Chips could be making a move higher following reports that three large chip makers in Japan might be talks to combine due to pressure from competition. The Japanese government would even be a part of the consolidation deal. Sentiment in companies like Intel (Nasdaq: INTC) and Samsung might be higher today on the news.
  
  
• iShares FTSE China 25 Index Fun (NYSE: FXI) up 1.18 percent to $40.19. Stocks in China popped following speculation that the slowing economy might prompt lawmakers to ease monetary policy. Also, the Chinese government pledged support to continue helping homebuyers, which is helping out stocks in that sector immensely.

• United States Oil Fund (NYSE: USO) down 0.24 percent to $37.86. EIA data Wednesday had crude stocks rising by 300,00 barrels, though an indirect measure for demand fell 1.5 percent. Analysts were looking for a larger increase to 2.7 million barrels.
  
  Front month contracts have actually peeked into positive territory, according to Comex data.
  
  
• SPDR Gold Trust (NYSE: GLD) down 0.67 percent to $168.57. Traders are turning attentions to the euro in favor of gold as Greece nears a bailout deal, prompting sentiment for more risk. Though down about $12.5 per ounce, gold prices are just coming off of 11-week highs.

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