TradingMarkets 7 ETFs You Need to Know for Thursday

• By David Penn
• On 4:26 pm EST, Wednesday November 4, 2009

The most oversold exchange-traded funds (ETFs) going into Thursday's trading include a sizable number of financial-oriented ETFs, while semiconductor ETFs that had pulled back on Tuesday advanced. Top ETF PowerRatings Funds include: KIE, EWO, RSX.

Here are 7 ETFs You Need to Know for Thursday.

Among the financials pulling back into oversold territory and earning high ETF PowerRatings of 9 in the process are the Financial Select Sector SPDRS ETF (NYSE:XLF - News) and the Regional Bank HOLDRS ETF (NYSE:RKH - News). XLF slid just under 1% in retracing half of the previous day's gains, while the RKH pulled back by more than 1%, totally erasing Tuesday's modest advance.

In addition to the two high-ETF PowerRating country funds noted above, the iShares MSCI Turkey Investable Market Index Fund ETF (NYSE:TUR - News) closed with an ETF PowerRating of 9 despite bounding higher by nearly 2% on Wednesday.

ETFs representing crude oil advanced on Wednesday, with the United States Oil Fund ETF (NYSE:USO - News) up 1% to close at its highest level in nine days. In contrast, the United States Natural Gas Fund ETF (NYSE:UNG - News) slid by 3%.

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Up by nearly 1% was the Technology Select Sector SPDRS ETF (NYSE:XLK - News), which benefitted from renewed strength in the semiconductor sector.

Pullbacks in bond ETFs helped deepen oversold conditions above the 200-day moving averages in funds like the SPDR Barclays High Yield Bond ETF (NYSE:JNK - News).

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