NEW YORK ( TheStreet) -- Here are this week's winners and losers.


SPDR S&P Metals & Mining ETF ( XME) 3.9%

Although it struggled into the close, the miner-tracking XME still managed to close out the week with industry leading gains.

The materials sector has become a volatile corner of the investing realm as downward market action has weighed heavily on investor confidence in the global economic recovery. Over the next few days, traders will want to keep a close watch on the fund's 200-day moving average. The fund is just now testing this level and it will be interesting to see how it fares.

PowerShares Dynamic Networking Portfolio ( PXQ) 3.8%

PXQ fell steadily in the first weeks of June. This week, however, the fund staged a nice bounce off of its 200-day moving average. Although persistent market weakness may put pressure on the technology sector in the near term, it remains an industry to keep an eye on.

A fund like the First Trust Dow Jones Internet Index Fund ( FDN) stands out as an attractive option for those looking to position themselves to profit from the popularity surrounding companies like LinkedIn ( LNKD).

SPDR S&P Retail ETF ( XRT) 2.7%

Investor confidence is being tested as the markets continue to behave in a volatile manner. On Main Street, however, consumers are still showing strength, as indicated by the upward action ed from the retail ETF.

XRT is well suited to benefit from various consumer preferences. The fund boasts exposure from a range of retailers. Among its top ten holdings are Office Depot ( ODP), Carmax ( KMX), WetSeal ( WTSLA) and J.C. Penney ( JCP).


United States Gasoline Fund ( UGA) -5.7%

The International Energy Agency sent shockwaves through the energy industry this week when it announced that 60 million barrels of oil would be released from reserves. News of this injection sent shares of the futures-backed UGA tumbling.

In the days ahead, it will be interesting to see how dipping gas prices are perceived by analysts and market commentators. For consumers, some relief at the pump will likely be beneficial with vacation season getting into full swing.

ETFS Physical Platinum Shares ( PPLT) -4.2%

Although many corners of the precious metals spectrum ran into hurdles this week, platinum led the decline. This industry-linked metal tends to trade in line with the broader markets and has struggled as global economic headwinds weigh on investor confidence.

Looking to the week ahead, platinum and its cousin, palladium, may fall into focus when auto and truck sales numbers are released. Both are used extensively in the production of catalytic converters.

iPath S&P 500 VIX Short Term Futures ETN ( VXX) -2.8%

Friday's choppy action helped VXX recover some lost ground but it was not enough to keep the ETN from scoring a spot amongst this week's biggest losers. This is a notable reversal from the previous week when VXX managed to top the winners list.

VXX's inherent volatility has shone brightly over the past two weeks. While exciting to watch from day to day, investors looking to construct a stable, long-term portfolio should steer clear of this product.

Written by Don Dion in Williamstown, Mass.


At the time of publication, Dion Money Management owned the First Trust Dow Jones Internet Index Fund.