Dion's Friday ETF Winners and Losers

NEW YORK (TheStreet) -- Welcome to Don Dion's "ETF Winners and Losers." Be sure to stop by throughout the week to find out which ETFs are gaining or losing.

Winners

Guggenheim Solar ETF ( TAN) 4.1%

Over the past few months, solar energy stocks have felt heavy pressure as looming macroeconomic headwinds have weighed on investor sentiment. This continued into November, with the fund kicking off the month with steep losses. In the days that have followed, however, the volatile TAN has managed to sustain a three-day rally.

Despite this recent string of gains, I continue to encourage investors to watch this fund from the sidelines.

iPath S&P 500 VIX Short Term Futures ETN ( VXX) 1.5%

The VXX is heading higher following this morning's tepid jobs report and the continued drama taking place in the European Union. The shaky start to November has boded well for this fear-tracking ETN, as it has managed to recover back to its 50-day moving average.

Looking ahead, this could be a point to keep a watch on. The fund has jockeyed back and forth along the level since mid-October.

Losers

iShares MSCI Italy Index Fund ( EWI) -3.8%

Following Thursday's Greece-related drama, the ongoing European economic crisis is in focus for another day. While the weakest corners of the euro monetary bloc are leading the retreat, relatively stable nations like Germany are not immune to the sell-off. iShares MSCI Germany Index Fund ( EWG) was off over 2% during early afternoon trading.

European nations outside of the euro region are struggling as well. The Global X FTSE Norway 30 ETF ( NORW) is suffering noticeable declines.

iShares MSCI Thailand Investable Market Index Fund ( THD) -2.6%

Emerging markets are showing weakness as downward market action drives investors out of risky assets.

Thailand has become a particularly risky corner of the developing world. In addition to sweeping economic turmoil, this nation's marketplace continues to be threatened as the government works to defend against flood waters.

Global X Uranium ETF ( URA) -1.5%While solar stocks are shining, the same can not be said for other corners of the alternative energy sector. The nuclear energy industry, for instance, is taking a hit, as evidenced by the downward action seen from URA and the Market Vectors Uranium + Nuclear Energy ETF ( NLR).

Guggenheim Timber ETF ( CUT) -1.4%

The timber industry is struggling as investor moods remain soured heading into the weekend. CUT and the iShares S&P Global Timber & Forestry Index Fund ( WOOD) enjoyed some welcomed strength in October. Looking ahead, however, it is difficult to determine what is in store for this industry.

All prices as of 2:14 PM EST

Written by Don Dion in Williamstown, Mass.

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At the time of publication, Dion Money Management did not own any equities mentioned.

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