Guggenheim Airline ( FAA)? Oil prices have been in control of this ETF's trading pattern since Day One. FAA holds promise for those that believe crude oil prices will head back down to the $80-$85 per barrel range.

Prior to more recent concerns about Chinese demand and geopolitical unrest, commodity-oriented investments (e.g., miners, "ag," etc.) were phenomenal. If you believe that the U.S. dollar will resume a long-term downtrend and if you believe the global industrial cycle is still headed for expansion, you might want to look for value here.

The same could be said for commodity-rich Chile ( ECH) and Peru ( EPU); that is, their success is dependent on commodity demand and global economic expansion. If you're a believer, you might step up to the pullback plate.

In contrast, a direct investment in Japanese equities via Small-Cap Japan ( SCJ) may not be the best way to show confidence in a Japanese recovery. Look to Steel ( SLX), Timber ( CUT) as well as Coal ( KOL) to benefit from rebuilding efforts in the Land of the Rising Sun.

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Disclosure Statement: ETF Expert is a website that makes the world of ETFs easier to understand. Gary Gordon, Pacific Park Financial and/or its clients may hold positions in ETFs, mutual funds and investment assets mentioned. The commentary does not constitute individualized investment advice. The opinions offered are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial or its subsidiaries for advertising at the ETF Expert website. ETF Expert content is created independently of any advertising relationships. You may review additional ETF Expert at the site.

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