0

FOREX -Syria tensions buoy yen, Swiss franc while riskier currencies fall

Emerging market currencies tumbled, with the Indian rupee hitting a record low and the Russian rouble, the Indonesian rupiah and a host of others recording multi-year troughs. The rising tension stemming from Syria overshadowed the impact from positive data from the euro zone on the euro. The IFO German confidence survey showed business sentiment was at its highest level in 16 months but that had only a fleeting impact on the euro. “IFO beat expectations with both the current assessment and forward-looking expectations better than expected,” said Elsa Lignos, senior currency strategist at RBC Capital.” The effect was lost in the general safe haven rally, taking euro/dollar down to a low of $1.3322.” The euro was last down 0.2 against the dollar at $1.3340 while it was down 1 percent against the yen at 130.31 yen.
Source: http://www.reuters.com/article/2013/08/27/markets-forex-idUSL6N0GS1MX20130827

view site…

Forex Peace Army CEO Dmitri Chavkerov Warns Against Industry-wide Fraud from Unregulated Brokers and Other Forex Companies

The data came as the government stepped up to uncover illegal foreign exchange transactions as part of a broader effort to clamp down on tax evasion and money laundering that often involve high-profile Koreans in corporate and political spheres. Most of the cases found by the FSS breached the rule by choosing not to report the foreign exchange transaction to the bank, which is required by local forex law. The FSS said it has notified the tax and customs agencies here of 43 suspicious deals in relation to possible tax-dodging. It also said it expects the number of violators to rise as it will continue to run its task force on illegal foreign exchange transactions.
Source: http://www.globalpost.com/dispatch/news/yonhap-news-agency/130826/illegal-forex-deals-soar-26-pct-h1-regulator

Forex: USD/CHF Technical Analysis – Watching for Upswing

Positive RSI divergence bolsters the case for an upside scenario. Near-term resistance is at 0.9290, the 23.6% Fibonacci retracement, with a break above that targeting the 38.2% level at 0.9378. Trend line support is now at 0.9162. Confirm your chart-based trade setups with the Technical Analyzer . Daily Chart – Created Using FXCM Marketscope 2.0 — Written by Ilya Spivak, Currency Strategist for Dailyfx.com To contact Ilya, e-mail ispivak@dailyfx.com.
Source: http://www.dailyfx.com/forex/technical/home/analysis/usd-chf/2013/08/27/dailyclassics_usd-chf.html

Illegal forex deals soar 26 pct in H1: regulator

Shortly after advertising this website, I started receiving emails from people, asking me to post their reviews.A I obliged, and the site started growing quickly. Eventually I offered my site visitors to give me their email address, so that I could share with them my trading views. At that time, all other forex signal providers charged money for their services, so my website became first in the world to provide free forex trading signals to people. Since 2005, that once small website changed its name twice, and is now known to the world as Forex Peace Army,” says Dmitri Chavkerov. It’s been 8 years, since Chavkerov founded Forex Peace Army, but according to him, there is still much fraud happening in the forex industry on regular basis. “Forex Peace Army has a section, which lists forex scams.
Source: http://www.bizjournals.com/prnewswire/press_releases/2013/08/23/PH68686

Forex – Dollar holds steady as market shrugs off weak data

The forex signals app, or application, is set up for users to get market updates and breaking news live on their mobile phone or tablet. The forex app includes live forex trading signals that cover over 8 currency pairs, such as the EUR/USD and GBP/USD, as well commodities like wheat and oil. “When people open their Samsung Galaxy 3 or Apple IPhone, they want instant information and access,” added CTO, Ali Khan. “The app stores allow us to get people up to the minute trading information without having to go through the process of going to the website and logging in.” The forex signal is off to a very strong start with users, getting a 4.2 rating out of 5 stars, by far the highest rating for any forex based app.
Source: http://www.tmcnet.com/usubmit/-binary-options-app-forex-signals-app-itm-financial-/2013/08/27/7368276.htm

Binary Options App and Forex Signals App By ITM Financial Combine For Over 5,000 Downloads In Google Play and Apple ITunes Store.

Inc. All rights reserved. Copyright/IP Policy Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page .
Source: http://finance.yahoo.com/news/forex-aud-usd-technical-analysis-102500366.html

Forex: AUD/USD Technical Analysis – Holding Long for Now

The Federal Reserve has said it will pay close attention to data before deciding on the fate of stimulus programs, and many investors were looking ahead to Thursday for the release of second-quarter GDP growth revisions and to next week’s release of the August jobs report. The greenback was down against the pound, with GBP/USD up 0.09% at 1.5582. The dollar was down against the yen, with USD/JPY down 0.28% at 98.45, and up against the Swiss franc, with USD/CHF trading up 0.04% at 0.9222. Bank of Japan Governor Haruhiko Kuroda said over the weekend that the bank’s aggressively loose monetary policies, including asset purchases, have started to boost the economy, which gave the yen support. The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.02% at 1.0500, AUD/USD up 0.09% at 0.9034 and NZD/USD trading up 0.60% at 0.7854.
Source: http://www.moneycontrol.com/news/rupee/forex-dollar-holds-steady-as-market-shrugs-off-weak-data_940996.html

Advertisements
0

For Obama, MLK’s shadow looms large ahead of speech

10. (Photo: Jameson Hsieh, AP) SHARE 73 CONNECT 29 TWEET 15 COMMENTEMAILMORE The rodeo clown who sparked controversy earlier this month when he mockingly wore a President Obama Obama loan forgiveness mask as part of his act says he has received five death threats, had a lady spit in his face, and suggested he wouldn’t mind shaking the president’s hand. In an interview with KCTV in Sedalia, Mo., Tuffy Gessling said the stunt at the Missouri State Fair was comparable to jokes that rodeos have pulled off at the expense of past presidents. “I didn’t think anything more of it than what we’ve done 15 years ago, 10 years ago, five years ago, when we’ve done it with Bush, Clinton and Ronald Reagan,” Gessling said. Gessling donned an Obama mask, and the announcer asked a crowd if they wanted to see “Obama run down by a bull.” Another clown played with the lips of the Obama mask, and the act drew the ire of politicians on both sides of the aisle.
Source: http://www.usatoday.com/story/theoval/2013/08/26/rodeo-clown-wants-to-shake-obamas-hand/2700889/

And so has European approval for his administration’s international policies. A Pew Research Center poll conducted this spring, before the NSA programs were revealed, showed that support for his foreign policies was down in most of the countries surveyed, including a 14 point drop in Britain and a 12 point drop in France. Photo: Michael Sohn FILE – In this June 19, 2013, file photo U.S. President Barack… FILE – In this June 4, 2009, file photo U.S.
Source: http://www.sfgate.com/news/article/For-Obama-world-looks-far-different-than-expected-4760632.php

President Obama Awards the Medal of Honor to Ty Carter

Speaker of the House of Representatives John Boehner had “preliminary communication” with the White House about the situation in Syria on Monday afternoon, said Brendan Buck, a spokesman for the Republican leader. “The Speaker made clear that before any action is taken there must be meaningful consultation with members of Congress, as well as clearly defined objectives and a broader strategy to achieve stability,” Buck said in a statement. Republican Representative Howard McKeon, chairman of the House Armed Services Committee, said Obama must act “decisively” on Syria and that U.S. credibility is on the line. But he said Congress must be involved in any decision. “I expect the Commander in Chief would consult with Congress in the days ahead as he considers the options available to him,” he said in a statement after Kerry’s remarks.
Source: http://uk.reuters.com/article/2013/08/26/us-syria-crisis-usa-congress-idUKBRE97P0XF20130826

U.S. lawmakers call on Obama to consult them on Syria

EDT August 26, 2013 The president will deliver a major address Wednesday to commemorate the March on Washington. President Obama and his aides are keeping quiet on the details of his speech. (Photo: Jacquelyn Martin, AP) Story Highlights President has often declared his story would not have been possible if it weren’t for King Obama likely to use speech to mark the progress in the fight against prejudice Jesse Jackson: It’s “unfair” to compare Obama to King SHARECONNECT TWEET COMMENTEMAILMORE WASHINGTON When President Obama steps to the podium at the Lincoln Memorial on Wednesday to mark the 50th anniversary of the March on Washington for Jobs and Freedom, it will mark a signal moment in his presidency. In telling his own story to Americans over the years, Obama has shied away from declaring his own political rise as some sort of bookend to Martin Luther King Jr.’s seminal “I Have a Dream” speech. But he has constantly underscored that his story would not have been possible were it not for King and others who sacrificed during the civil rights movement.
Source: http://www.usatoday.com/story/news/politics/2013/08/26/obama-speech-preview-march-on-washington/2703197/

For Obama, world looks far different than expected

When the moment was right, Ty stepped out again and ran to Stephan, and applying a tourniquet to one of his legs, bandaging the other, tending to his wounds, grabbing a tree branch to splint his ankle. And if you are left with just one image from that day, let it be this: Ty Carter bending over, picking up Stephan Mace, cradling him in his arms, and carrying him — through all those bullets — and getting him back to that Humvee. And then Ty stepped out again — recovering a radio, finally making contact with the rest of the troop, and they came up with a plan. As Clint Romesha and his team provided cover, these three soldiers made their escape — Ty, Brad carrying Stephan on a stretcher, through the chaos, delivering Stephan to the medics. And the battle was still not over, so Ty returned to the fight. With much of the outpost on fire, the flames bearing down on the aid station, with so many wounded inside, Ty stepped out, one last time, exposing himself to enemy fire; grabbed a chainsaw, cut down a burning tree, saved the aid station, and helped to rally his troop as they fought, yard by yard. They pushed the enemy back. Our soldiers retook their camp. President Obama also recognized Carter’s courage off the battlefield in speaking openly and honestly about his struggle with Post-Traumatic Stress. “At first, like a lot of troops, Ty resisted seeking help,” President Obama said. But with the support of the Army, his commanders, and his family, he reached out.
Source: http://www.whitehouse.gov/blog/2013/08/26/president-obama-awards-medal-honor-ty-carter

0

Treasuries, U.S. Stocks Climb on Home Data; Gold Rallies

EDT Carry-trade unwind could spell trouble for stocks stock picks for today LEARN MORE New, improved Portfolio coming soon! We are partnering with LikeAssests to bring a powerful investment tracking platform to MarketWatch. This new Portfolio will enable you to sync and view all of your investment accounts integrated with MarketWatch’s breaking news and analysis, and provide you with more tools to manage your positions. The current “My Portfolio” will remain and your data won’t be lost, but the feature will be renamed as “Watchlist” starting on August 27.
Source: http://articles.marketwatch.com/story/carry-trade-unwind-could-spell-trouble-for-stocks-2013-08-23?link=MW_story_featstor

The Fed has been buying $85 billion in bonds every month to hold down long-term interest rates and encourage lending. Minutes from the Fed’s July meeting released on Wednesday failed to give investors any clear indication of when the central bank will start slowing its bond purchases. Some investors are using the summer slump as an opportunity to buystocksat less expensive prices, said Joe Bell , a senior equity analyst at Schaeffer’s Investment Research.Stocksclimbed to record highs at the start of the month. Stocksare “getting more attention in the mainstream,” said Bell.
Source: http://www.csmonitor.com/Business/Latest-News-Wires/2013/0823/Stocks-close-higher.-Microsoft-surges

Halliburton, Chesapeake lead energy stocks higher

1, but was unable to close above its 50-day moving average for a fifth straight session. The mark, now at 1,659.34, has become a technical hurdle. “We’ve got the 50-day (average) right there. We are all kind of still catching our breath after yesterday’s flash freeze,” said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research in Cincinnati, Ohio.
Source: http://www.reuters.com/article/2013/08/23/markets-usa-stocks-idUSL2N0GO13F20130823?type=companyNews&feedType=RSS

Stocks close higher. Microsoft surges.

San Franciscos John Williams told CNBC he wants to taper our purchases later this year if the economy doesnt flag, while Atlantas Dennis Lockhart said he would be supportive of slowing purchases next month if the expansion holds up. Data today from the Commerce Department showed purchases of new U.S. homes plunged in July by the most in more than three years and previous months were revised down, a sign that growth in the industry may be taking a pause as mortgage rates rise. Yields on 10-year Treasury notes have risen toward a two-year high.
Source: http://www.bloomberg.com/news/2013-08-23/u-s-stock-index-futures-little-changed-before-house-data.html

U.S. Stocks Rise Amid Plunge in Home Sales, Fed Gathering

rose 1.2 percent after the shares slid the most in more than four months following a trading disruption yesterday. Nasdaq halted trading of its listed stocks for three hours yesterday because a computer problem left some investors without quotes and the company did not want to have information asymmetry, Chief Executive Officer Robert Greifeld said in interviews today. The Chicago Board Options Exchange Volatility Index, or VIX, dropped 5.3 percent to 13.98. The equity volatility gauge has fallen 2.7 percent in the past five days, halting two consecutive weeks of advances. The Stoxx Europe 600 Index increased 0.4 percent, trimming its decline for the week to 0.5 percent. An index of household confidence in the euro zone improved for a ninth month to the highest level since July 2011, the European Commission in Brussels said in a preliminary report.
Source: http://www.bloomberg.com/news/2013-08-22/asian-futures-advance-as-dollar-holds-gains-copper-rises.html

Stocks end higher on Wall Street; Microsoft jumps

13, 2013, file photo, Trader Frederick Reimer works on the floor of the New York Stock Exchange. Encouraging economic figures from Asia and Europe helped stocks advance and broke a six-day losing streak for the Dow Jones industrial average on Thursday, Aug.22, 2013, though trading on the Nasdaq was interrupted by a technical glitch just after midday. Photo: Richard Drew FILE – In this Tuesday, Aug. 13, 2013, file photo, Trader Frederick…
Source: http://www.sfgate.com/news/article/Stocks-end-higher-on-Wall-Street-Microsoft-jumps-4756611.php

US STOCKS-Wall St rises a day after Nasdaq outage, Microsoft up

We are partnering with LikeAssests to bring a powerful investment tracking platform to MarketWatch. This new Portfolio will enable you to sync and view all of your investment accounts integrated with MarketWatch’s breaking news and analysis, and provide you with more tools to manage your positions. The current “My Portfolio” will remain and your data won’t be lost, but the feature will be renamed as “Watchlist” starting on August 27. Want to see how this story relates to your portfolio?
Source: http://www.marketwatch.com/story/halliburton-leads-energy-stocks-higher-2013-08-23

0

Signing student loan deal into law, Obama says ‘job is not done’ on college affordability

To find out whether that’s the case, talk to an experienced bankruptcy attorney familiar with the laws in your state. None of this reduces your son’s responsibility for his debt. If collectors can’t come after you, they will start to pursue him in earnest for payment and he’ll learn just how wrong he is about student loan debt. But that’s his problem, and he at least has a working lifetime ahead of him to pay back what he borrowed. Divorcee eligible for spousal benefits Dear Liz: My daughter, 63, has been recently amicably divorced and receives a small alimony ($1,000).
Source: http://www.latimes.com/business/la-fi-montalk-20130811,0,5493313.column

Some pundits argue that the focus on repaying college loans is stifling investment in business and discouraging young adults from buying a first home. The American Medical Association says many new doctors are choosing lucrative specialties, rather than family practice, in order to get a handle on their often massive debts. The College Board has information on college costs at http://bigfuture.collegeboard.org. The Finance Authority of Maine has information about filing your Free Application for Federal Student Aid and more at http://www.famemaine.com. Consumer Forum is a collaboration of the Bangor Daily News and Northeast CONTACT, Maines all-volunteer, nonprofit consumer organization.
Source: http://bangordailynews.com/2013/08/11/business/understanding-student-loans/

Take extra care before agreeing to co-sign for a student loan. Having a co-signer can be beneficial to a student by possibly allowing him or her to obtain a very low rate. “But a co-signer is a co-borrower, equally obligated to repay the debt,” warns Mark Kantrowitz of Edvisors.com. If the student defaults on the loan, the student will not only ruin his or her own credit, but also the co-signer’s credit. Read the fine print and pay attention to various programs that could save you money.
Source: http://azstarnet.com/business/despite-student-loan-relief-do-math-carefully-when-borrowing/article_02c7e09d-0e1f-5de6-bb53-1196677b2199.html

The compromise is a good deal for all students through the 2015 academic year. After that, interest rates are expected to climb above where they were when students left campus in the spring, if congressional estimates prove correct for 10-year Treasury notes. Undergraduates this fall will borrow at a 3.9 percent interest rate for subsidized and unsubsidized loans. Graduate students would have access to loans at 5.4 percent, and parents would borrow at 6.4 percent. The rates would be locked in for that years loan, but each years loan could be more expensive than the last.
Source: http://www.washingtonpost.com/politics/federal_government/obama-set-to-sign-student-loan-bill-that-offers-students-better-deals-and-lower-rates/2013/08/09/ef13d284-00c5-11e3-8294-0ee5075b840d_story.html

Student loan deal passes Senate

The Congressional Budget Office estimates that rates would not reach those limits in the next 10 years. A student looking for a loan must be able to prove there’s a financial need in order to qualify for a subsidized Stafford loan. About two-thirds of these loans are awarded to students with family adjusted gross income of less than $50,000. About one-fourth go to families with AGI between $50,000 and $100,000, and less than 10 percent go to families with AGI’s more than $100,000, according to FinAid.org. Keep in mind that the government pays the interest on subsidized Stafford loans during the in-school period, effectively giving students and families a 0 percent interest rate during that time.
Source: http://www.sunherald.com/2013/08/10/4863171/susan-tompor-despite-student-loan.html

It may not be total coverage of their expenses, but it helps, she said. PHCC stopped participating in the federal student loan program in the early 1990s, Keller said, because the default rate (number of students not paying on their loans) jeopardized the schools access to federal grant money. Instead, PHCC promotes scholarships through the schools foundation as well as federal and state grants, she said. If that isnt enough, Keller said, private loans also are available through banks, although very few do that because rates are tied to the financial markets as well as the http://www.obamastudentloanforgiveness.net/ applicants credit, she added. Keller estimated that 75 percent of PHCC students receive some form of financial assistance, adding that even if a student is registered for a single hour of class, he still is eligible for aid. Since PHCC also has many non-traditional students, she added, many students pay their way through school.
Source: http://www.martinsvillebulletin.com/article.cfm?ID=38651

Student loan bill inked

“My colleagues and I have been fighting for months for a long-term market-based solution that will serve students and taxpayers, and the legislation before us today will do just that,” said Minnesota Republican John Kline, who runs the House education panel. Related: Student loan horror stories The new rule doesn’t apply to loans that students get from private lenders. It only affects Stafford loans, which are made by the U.S. government to help finance a college education. On July 1, the interest rate on subsidized Stafford loans doubled from 3.4% to 6.8%, affecting 7.4 million students. The subsidized loans are based on financial need and account for about 26% of all federal student loans, according to the Congressional Budget Office.
Source: http://money.cnn.com/2013/07/31/pf/college/student-loan-house/index.html

Susan Tompor: Despite student loan relief, do math carefully when borrowing

The subsidized government student loans are based on financial need and account for about 26% of all federal student loans, according to the Congressional Budget Office. Unsubsidized loans and graduate loans were already paying 6.8% interest rates. The latest bill helps all students. The basic principle is that it ties student loan rates to the bond markets. This fall, undergraduate students will pay an overall interest rate of 3.86% on their loans. It is comprised of the yield on the 10-year Treasury note on June 1, plus an additional 2.05%.
Source: http://money.cnn.com/2013/07/24/news/economy/senate-student-loans/index.html

0

ETF Talk: India’s New Central Bank Chief Offers Hope

It’s a smaller MLP compared with the Magellans and the Plains of the world, focused primarily on petroleum logistics on the Gulf Coast. Operations include a growing marine transportation business, and the partnership has done well targeting the increasingly lucrative barge market . Investors should also note that Genesis remains committed to distribution increases, and just announced its 32nd consecutive quarterly increase. Bottom line The Alerian MLP Index ETF performs well, and generates income without the paperwork headaches that come with individual MLP ownership via the K-1 form. Diversity mitigates risk, and that’s what you get with the 25 different MLPs in this ETF.
Source: http://www.fool.com/investing/general/2013/08/10/inside-the-alerian-mlp-index-petroleum-transport.aspx

Index Schwab Fundamental U.S. Large Company Index ETF (FNDX) Seeks to track the Russell Fundamental U.S. Large Company Index Schwab Fundamental U.S. Small Company Index ETF (FNDA) Seeks to track the Russell Fundamental U.S Small Company Index Schwab Fundamental International Large Company Index ETF (FNDF) Seeks to track the Russell Fundamental Developed ex-U.S.
Source: http://www.businessinsider.com/charles-schwab-launches-6-new-etfs-2013-8

‘Just Say No’ To Contango With This New ETF

Credit: Reuters/Tami Chappell By Ashley Lau NEW YORK | Wed Aug 7, 2013 11:27am EDT NEW YORK (Reuters) – Early last Friday, Nashville resident Ralph Schulz and his wife go!! rushed to open a Charles Schwab Corp account, in a hurry to grab some shares of their hometown’s first exchange-traded fund – the Nashville Area ETF. Still, Schulz, 60, was a day late to join the historic launch of the first city-based ETF, which began trading August 1 on the New York Stock Exchange. As his broker’s firm wasn’t able to process the order, Schulz and his wife were quick to jump in another way. “I wish I could’ve been there on Thursday,” Schulz said. Instead, it holds 24 locally headquartered firms – like Cracker Barrel and Dollar General – and leans heavily on healthcare, with one of its biggest components being HCA Holdings Inc, the largest publicly traded hospital chain in the country.
Source: http://www.reuters.com/article/2013/08/07/us-nashville-etf-idUSBRE9760SY20130807

The Nashville ETF: Will it make music for investors?

( COO ) is off about 0.6%, and Genworth Financial, Inc. ( GNW ) is lower by about 0.6%. For a complete list of holdings, visit the VB Holdings page Click here to find out which 9 other ETFs had notable inflows The chart below shows the one year price performance of VB, versus its 200 day moving average: Looking at the chart above, VB’s low point in its 52 week range is $74.48 per share, with $102.00 as the 52 week high point that compares with a last trade of $100.54. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique — learn more about the 200 day moving average . Exchange traded funds (ETFs) trade just like stocks, but instead of ”shares” investors are actually buying and selling ”units”.
Source: http://www.thestreet.com/story/12004875/1/notable-etf-inflow-detected–vb-pii-coo-gnw.html

Notable ETF Inflow Detected – VB, PII, COO, GNW

This non-diversified fund seeks to track, before fees and expenses, the price and yield performance of an Indian index which is made up of companies incorporated and traded in India that are profitable and are eligible to be purchased by foreign investors. As you can see from the chart below, this ETF has lost 13.48% in the last year and 25.09% since the beginning of 2013. EPI is at its lowest price since 2009, and that could make it a bargain here if the shares are capable of sustaining a rally. This fund also offers a dividend yield of 1.13% for investors interested in additional income.
Source: http://www.nasdaq.com/article/etf-talk-indias-new-central-bank-chief-offers-hope-cm266299

Charles Schwab Adds 6 New Flavors To Their ‘Vanilla’ Index ETF Offerings

Click here to find out which 9 other ETFs had notable inflows The chart below shows the one year price performance of FLOT, versus its 200 day moving average: Looking at the chart above, FLOT’s low point in its 52 week range is $50.10 per share, with $50.91 as the 52 week high point that compares with a last trade of $50.64. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique — learn more about the 200 day moving average . Exchange traded funds (ETFs) trade just like stocks, but instead of ”shares” investors are actually buying and selling ”units”. These ”units” can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Source: http://www.thestreet.com/story/12004883/1/notable-etf-inflow-detected–flot.html

Notable ETF Inflow Detected – FLOT

However, some futures-based commodities ETFs and ETNs roll those futures every month, leading to higher fees and lower returns for investors. Related: Eight Commodities ETFs for 2013. CMDT, which has an annual expense ratio 0.75 percent, devotes 37.5 percent of its weight to energy commodities with March 2014 NYMEX-traded natural gas and January 2014 West Texas Intermediate crude oil representing the new ETF’s top-two holdings at a combined 23.9 percent, according to the fund’s fact sheet. ” Many investors look to commodities to diversify beyond stocks and bonds, but when investing in commodity funds that typically hold futures contracts, the buying and selling of contracts can detract from fund performance. CMDT’s other top-10 holdings include a Comex gold contract, copper, Brent crude (the global benchmark for oil futures), corn and soybeans. Although metals combine for 28 percent of CMDT’s index, silver, one of the more heavily traded precious metals is not included in the new ETF’s top-10 holdings.
Source: http://www.marketwatch.com/story/just-say-no-to-contango-with-this-new-etf-2013-08-09-1646435