Monday's stocks to watch: HAL, HAS, AAPL >>> READ MORE

3 ETFs to Tempt “Early Bird” 2014 Investors

Surprising 2014 trends may make these ETFs bargains today

      View All  

2. Market Vectors Steel 

Virtually all of the Morningstar-rated ETFs currently carry the moniker of “Fairly Valued” or “Overvalued.” There are exceptions, of course. Market Vectors Steel (SLX) sports a price-to-Morningstar-fair-value ratio of 0.83. That alone portends the possibility of 20% upside before even reaching a fairly valued ratio of 1.00.

Equally compelling, the technical picture is serving up several upbeat trends. The 50-day climbed above the 200-day in early October. The price has enjoyed strong support at the 50-day moving average since the June lows — the same lows where most global assets suffered during the rising rate, “taper tantrum” of the May-June period. Lastly, Goldman Sachs recently upgraded the sector in November.

SLX 50 200

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC