Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

PowerShares Water Resources ETF on the Rise


PowerShares Water ETF on the Rise
By Mike Paulenoff, www.MPTrader.com

Based on the pattern that has developed since the January spike low at 16.90, the PowerShares Water Resources Portfolio ETF (AMEX: PHO) is heading for the top of its price channels into the vicinity of 21.50/70 prior to the completion of the current upleg off of the 3/17 pivot low (18.11). If rice is in short supply, what about water? I don't know if access to fresh water will be a problem next week or in another 15 years, but that day is approaching. In any case, for my purposes right here, right now, I am looking for 21.50.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!