It’s Time to Harvest Profits in Energy ETFs
Selling into weakness isn't selling out; look to act now
Solar energy also appears “toppy.” Admittedly, I never went near the industry. Nevertheless, if I were sitting on a tax loss carryover — and even if I weren’t — I might lock in my remarkable year-to-date profits in a fund like Guggenheim Solar (TAN). The near-term downtrend is evidence enough that I might want to take a break and revisit my premise.
If TAN makes it through the current bout of profit-taking as well as recovers its 50-day, I might investigate Market Vectors Solar (KWT) or another alternative energy fund like PowerShares Wilderhill Clean Energy (PBW). If so desired, I could buy back in within 30 days. Or, after a wash sale period, I could return to TAN.
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Disclosure Statement: ETF Expert is a web log (”blog”) that makes the world of ETFs easier to understand. Gary Gordon, MS, CFP is the president of Pacific Park Financial, Inc., a Registered Investment Adviser with the SEC. Gary Gordon, Pacific Park Financial, Inc., and/or its clients may hold positions in the ETFs, mutual funds, and/or any investment asset mentioned above. The commentary does not constitute individualized investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial, Inc. or its subsidiaries for advertising at the ETF Expert web site. ETF Expert content is created independently of any advertising relationship.
Article printed from InvestorPlace Media, http://investorplace.com/2013/12/etfs-solar-etfs-energy-ets-etfs-to-sell-now/.
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