Monday, we filtered among 207 non-US and global equity ETFs to find those with the strongest technical position. One passed the particular criteria we specified: THD (Thailand).
The chart below compares the 1-year percent performance of that ETF to that of the S&P 500 (SPY) and the BarCap US Aggregate Bond index (BND), as well as the MSCI Emerging Markets index (EEM), of which Thailand is a constituent country.
Note, however, that from about November 2010 through February 2011 Thailand took quite a spill. Investors using stops probably would have been taken out of the position at that time, along with some others small country funds, such as Turkey (TUR), which is also shown on the chart.
Thailand recovered and exceeded it prior high, but Turkey did not.
(Click chart to expand)
Different filter criteria tend to yield different survivors. That means that these two ETFs may not have passed other tests, or other ETFs might be added to this list with different criteria.
Here are the rules we used for the test:
1. positive 21-day, 63-day, 126-day and 252-day price slopes
2. price above mid-point of 21-day, 63-day, 126-day and 252-day price channels
3. 21-day average momentum of four different 0-100 range momentum indicators above 50
4. 5-day average direction of the four momentum indicators positive
5 price above 252-day (1-year) moving average price
6. 3 month (63-day) average Dollar trading volume per minute at least $20,000.
Disclosure: We hold SPY and EEM in some but not all managed accounts as of the publication date of this article.
Disclaimer: This article provides opinions and information, but does not contain recommendations or personal investment advise to any specific person for any particular purpose. Do your own research or obtain suitable personal advice. You are responsible for your own investment decisions. This article is presented subject to our full disclaimer found on our site available here.
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