NEW YORK ( TheStreet) -- Don Dion posts his current insights on the stock, bond, commodity and currency markets in his RealMoney blog, anticipating which ETFs will be in play next. Here are three of his blog posts from the past week:
Like Ireland and Greece (just two notable examples among many), Spain's economy has been plagued by rumors about debt crises and currency concerns. During 2010, the financials-heavy EWP fell more than 19% as waves of doubt sent underlying holdings lower. New confidence in global financial institutions, however, has helped to send EWP higher in recent weeks: EWP has gained more than 8% year-to-date. As I noted in a recent post, EWP may be top-heavy, but
it is one of the most liquid vehicles out there for making quick moves for Spain's equities . Top holding Banco Santander ( STD) accounts for more than 20% of this fund's underlying holdings, so investors have to be particularly sensitive to the influence of this single component. Today's announcement appears to confirm that short-term measures to shore up Spain's financial institutions will be part of a continued effort in the months ahead. Investors looking to target these institutions -- and who are willing to keep an eye on STD -- should consider EWP as a way to tap into the strengthening of Spain's financial sector. At time of publication, Dion did not hold positions in any equities mentioned.
Apple's earnings are expected to be good, and I believe that Jobs' impact will lessen over time as investors familiarize themselves with other managers at the company and refocus on the impact that Apple products continue to have. I believe that it is worth having exposure to Apple ahead of earnings -- as well as to a well-balanced bunch of tech names -- but QQQQ isn't the route to take. Instead, investors should consider the First Trust NASDAQ-100-Technology Sector ETF ( QTEC), an ETF that offers an "equal-weight" approach to the Nasdaq-100. Instead of relying on a portfolio that is top heavy, QTEC offers exposure to the group without leaning on any single component. QTEC's top three holdings, Nvidia ( NVDA), Micron Technology ( MU) and Adobe ( ADBE) account for 3.86%, 2.78% and 2.76%, respectively, of the underlying portfolio. Apple is, of course, included, and makes up 2.55% of QTEC's underlying holdings. QQQQ isn't the only way to tap into tech, and ahead of earnings season, ETF investors should consider the alternatives. QTEC is one way to gain exposure to these top tech firms without having to worry about the security-specific risk of top holdings like Apple in the short term. At the time of publication, Dion Money Management had no positions in stocks mentioned.