Preliminary reads on guidance show only 18 companies are set to share good news as opposed to 94 decidedly negative. That’s the highest number of companies since at least 2006. Leading negative sectors within the S&P 500 include technology, consumer discretionary and industrial.
But all that gloom means squat for a trio of stellar ETFs performing to their own drumbeat.
These are the highest flying exchange-traded funds in the third quarter. These ETFs are specifically focused on solar, social media and Chinese technology: Guggenheim Solar (TAN), the Global X Social Media Index (SOCL), and PowerShares Global Dragon China (PGJ).
While they focus on diverse sectors, these ETFs have three traits in common: all are thinly sliced, aggressive and riding momentous trends.
So, if you can stomach some risk and room in your portfolio, consider allocating a small percentage to one or all of them. Here is why each is riding high and should be more than one-quarter wonders: