Netflix adds 5.3M subscribers in Q3 >>> READ MORE

This Sector Is Set to Soar in 2013

SKYY may pull back slightly on profit-taking, but it should be held as a long-term investment


First Trust ISE Cloud Computing Index Fund (NYSE:SKYY) — On Jan. 14, the Trade of the Day recommended the cloud computing sub-sector as a potential top performer saying, ” The 40 companies in the portfolio enable the investor to participate in the enormous potential of ‘cloud computing,’ which leverages the Internet to store and deliver huge amounts of data at a fraction of the normal costs.”

I went on to say, “This ETF is, admittedly, not for everyone. But for those who want to be on the cutting edge of a relatively new technology boom, this investment could provide a huge return for its 0.6% expense ratio.”

SKYY’s break that exceed both the high and closing high of last April in Monday’s mixed day of trading is significant, especially after twin gaps on high volume. Even though this ETF could pull back slightly on profit-taking, it should be bought at the market and held as a long-term investment.

SKYY Chart
Click to Enlarge

Trade of the Day Chart Key

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC