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Notable ETF Movers of the Day 03/16: (VXX) (USO) (UUP) Higher; (EWJ) (TAN) (XLK) Lower

March 16, 2011 12:19 PM EDT
Gainers

  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 4.12% to $36.17. The CBOE VIX near-term index again showing exceptional movement today, bolstered by selling on comments made by an EU energy commissioner Günther Oettinger said that "apocalypse" was a well-chosen word to describe what's happening in Japan. Though the comment was made yesterday, the markets just caught wind of it today. Needless to say, the VXX ETF saw a nice late-morning surge.

  • United States Oil (NYSE: USO) up 0.58% to $39.62. In a move related more to speculation buying than anything, some are betting that demand for oil will increase once the trouble in Japan is sorted out, and the Middle East cools down a little. Volatility in the oil market is still heightened as nothing has been formally resolved yet. WTI April 11 contracts are up $1.24 to $98.42 per barrel on the Comex, while April
    11 brent contracts are down $1.24 to $110.01 per barrel.

  • PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.27% to $22.00. The U.S. dollar again appears to be the safe haven of choice against inflation and debt concerns in Europe, as well as uncertainty about the outcome in Japan, and continued unrest in the Middle East. USD is down versus the yen, but up against the euro and Great Britain pound.


Receders

  • iShares MSCI Japan Index (NYSE: EWJ) down 3.79% to $9.65. No surprise here. The Japan ETF may see further downside as the country struggles to regain its footing following a massive earthquake and aftershock last week knocked out power, killed hundreds, and is causing a serious nuclear power situation. The ETF is down over 16%<.font> since late last week.

  • Claymore/MAC Global Solar Index (NYSE: TAN) down 2.96% to $8.20. Seeing a little pullback following a nice run over the last few sessions of speculation that governments may shift to subsidize solar power more following recent headlines of nuclear trouble in Japan. The ETF moved over 14% better the last two sessions, though it never really closed in on yearly highs above $9.25 per share. Volume for the ETF is well above normal today. TAN is being led lower by Yingli Green Energy (NYSE: YGE), which is down 5.5% this afternoon.

  • Technology SPDR (NYSE: XLK) down 1.90% to $24.82. Being led lower by International Business Machines (NYSE: IBM), which is down 3.5% on the session, as an analyst at Bernstein cut their outlook on the company from Outperform to Market Perform. Otherwise, dampened economic outlook for many regions is a potential curb in demand for electronics on the consumer level right into the business segment. Additionally, prices for electronic goods may increase as Japan is one of the world's foremost producers of electronic gadgets, and many smaller manufacturers may still be working out what damage they may have incurred as a result of recent natural events there.


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