Gary Gordon submits: As of 1/5/2011, consumer discretionary ETFs became the weakest performing sector on a one-month rolling return basis. One week later, on 1/12/2011, a high volume display of ”selling on strength” further victimized the collective well-being of consumer stocks.
Nearly $200 million via block trading exited SPDR Select Consumer Discretionary (XLY) on Wednesday. The activity depleted XLY’s assets under management by roughly 8.5%, and it occurred on 3x the normal trading volume.
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