On Monday, MacroShares shuttered two ETFs that allowed investors to make bullish and bearish bets on the Case-Shiller Composite-10 Home Price Index.
The Major Metro Housing Up(UMM Quote) ETF and Major Metro Housing Down(DMM Quote) ETF, is the third paired ETF group from MacroShares to close down.
Source: TheStreet
If you look at the mortgage delinquency rate, I think it is very difficult to expect an economic recovery in 2010. This is from an AP article posted in the Houston Chronicle this morning.
More than 14 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end [...]
DMM is an ETF based on the S&P/Case-Shiller Composite-10 Home Price Index. This index tracks housing in Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington D.C.
DMM is a negative bet on the index. DMM’s sister index UMM is a long bet on the index.
The index [...]
Continue reading about DMM ETF – Macroshares Metro Housing Market Down
The most important chart continues to be the dollar.
As I mentioned in my short AAPL post (I closed my position today – it was just a quick scalp), it seemed likely that the market might have a brief pause due to the dollar hitting support (and UDN hitting resistance). I also noted that the [...]
I’ve been saying for more than a month that I would stay long until my indicators broke down. Today is that day. I’ll be watching the jobs report in the morning and for confirmation that this is not a one day fakeout but the charts look pretty persuasive that today could be the start of [...]
First Convertible Bond Fund http://www.indexuniverse.com/sections/newsinfocus/5697-first-convertable-bond-etf-takes-flight.html Won’t be worthwhile for technicians until we get at least 6 months of price data and see what the volume looks like.
Direxion Leveraged 3x Treasury ETFS http://www.indexuniverse.com/sections/newsinfocus/5698-direxion-launches-.html
Most of my readers know I’m not a fan of 2x and 3x ETFs in an environment with this kind of volatility. Treasuries might [...]
