After the trauma of this past couple of weeks and as we end January, and contemplate the oft quoted idea of “as goes January, so goe the year”, we thought it might be interesting to find the strongest and the weakest ETFs and ETNs.

From the universe of 838 ETFs and ETNs, we looked for those with the most extreme price positions. We looked for those above and below the upper and lower 126-day (6 months) moving average, 126-day price channel, and 126-day 2 standard deviation Bollinger Band. We then did the same using 63 days (3 months).

Introduction

An exerpt of Gary Shilling’s “2010 Investment Strategies: Six Areas To Buy, 11 Areas To Sell” recently appeared on Mauldin’s website. It is interesting because I respect Shilling and yet many of his suggestions directly contradict my investment recommendations.

In a wild and volatile week for equity markets, there was really no place to hide. Anyone who owned stocks experienced significant losses. Is it time to bail out, or are there still attractive opportunities in ETF's?

Our analysis shows a genuine opportunity in Japan, not just a "safer place" to park money.