Daily “Ways-to-Play” The News Before the Moves 2/12/2010

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Euro Extends Slide on Lack of Details on Support for Greece

TORONTO—The euro extended its losses Thursday amid the lack of detail on the euro-zone countries’ show of support for Greece, and a longer-term thrashing seems a near certainty even if a deal is struck.

sell Rydex Euro Currency Trust (FXE)

buy ProShares UltraShort Euro (EUO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

China’s Retreat From Risky Bonds Could Be The Straw That Breaks California’s Back

Coming in at over $2.2 trillion, China’s foreign exchange reserves are an enormous force in global asset markets.

sell iShares S&P National Municipal Bond Fund (MUB)

sell Alliance CA Municipal Income Fund (AKP)

sellBlackRock MuniYield California Insured Fund, Inc. (MCA)

sell BlackRock MuniHoldings California Insured Fund, Inc. (MUC)

sell BlackRock MuniYield California Fund, Inc. (MYC);
Check out how others are using ETFs to capitalize on this news or add your own opinion

European Bank’s PIGS Exposure

There is quite a lot of back and forth on just how important Greece is to the global financial situation. You have some commenting that if we are so concerned about Greece, why aren’t we freaking out about California, an economy with a larger deficit and a larger GDP (California’s economy is about the size of France). I can’t argue that California is definitely an issue, but at this moment, it certainly is not the focal point we should be looking at. While Greece by itself might v
buy SPDR-Financial (XLF)

sell iShares S&P Global Financials (IXG)

buy iShares DJ US Financial Sector (IYF)

sellMSCI Europe Financials Sector Index Fund (EUFN);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Recovery for base metal prices falters

The rally in base metal prices this year has stalled in recent weeks as concerns mount over whether consumption in the developed world will pick up enough to offset any short-term weakening in Chinese demand.

sell PowerShares DB Base Metals Fund (DBB);

buy PowerShares DB Base Metals Short Exchange Traded Note (BOS);

sell iPath Dow Jones-AIG Copper Total Return Sub-Index ETN (JJC);

sell iPath Dow Jones-AIG Aluminum Total Return Sub-Index (JJU);

sell iPath Dow Jones AIG Lead Total Return Sub Index (LD);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Handy sovereign risk table

Here’s a ranking of countries by perceived risk, taking into account things like current account balances, public and private debt, and CDS spreads. It comes from a note on the impact of sovereign risk on European banks, published on Wednesday by Jagdeep Kalsi, which you will find in the usual place.

sell iShares S&P/Citigroup International Treasury Fund (IGOV);

Check out how others are using ETFs to capitalize on this news or add your own opinion

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