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.
United States Natural Gas Fund ( UNG) 5.9% After a steep three-day decline, the natural gas futures-tracking UNG is back to levels seen prior to its late-January rally. The fund appears to have found some footing, however, preventing it from testing all-time lows. The recent back-and-forth action indicates that, although we have seen some strength, the road ahead for this troubled corner of the energy spectrum will be far from smooth. Market Vectors Vietnam ETF ( VNM) 3.9% The Vietnam ETF is surging higher, locking in a fifth consecutive day of gains. Though impressive, investors should exercise caution before diving in. In addition to revisiting its November highs, the fund is fast approaching its 200-day moving average. It will be interesting to see if these levels pose as a point of resistance. Guggenheim China Small Cap ETF ( HAO) 2.2% The China-related ETFs reopened on a sour note following the week-long Lunar New Year holiday. In the ensuing days, however, strength appears to have returned as HAO and the iShares FTSE China 25 Index Fund ( FXI) has had three days of gains. HAO is currently trading at a level that has shown to be a point of resistance on a number of occasions in recent months. FXI, meanwhile, is trading at brand new 2012 highs. SPDR S&P Metals & Mining ETF ( XME) 1.8% As the U.S. markets head higher, confidence is driving investors back into market-correlated industries. Miners, for example are powering higher as sentiment improves regarding global growth. The upward action is also leading investors back into risky industries. While their gains are encouraging, extreme caution is warranted when testing funds like the Market Vectors Rare Earth/Strategic Metals Index ETF ( REMX) and Guggenheim Solar ETF ( TAN). Market Vectors Gold Miners ETF ( GDX) 1.6% Gold is powering higher toward the end of the week. While gold miners are leading the climb, bullion backed products like the SPDR Gold Shares ( GLD) are also gaining ground. Silver is improving as well. The Global X Silver Miners ETF ( SIL) and the iShares Silver Trust ( SLV) are both up.
In trading on Tuesday, shares of the Vietnam ETF entered into oversold territory, changing hands as low as $19.62 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.