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After Yesterday's Rally of 3.67% Shares Could Potentially Pullback

By Nick Russo

SPDR S&P Metals & Mining ETF (AMEX:XME) traded in a range yesterday that spanned from a low of $22.46 to a high of $22.91. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $22.30 on volume of 5.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for SPDR S&P Metals & Mining ETF and will alert subscribers who have XME in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, SPDR S&P Metals & Mining ETF share prices have been bracketed by a low of $11.38 and a high of $38.26 and are now at $22.77, 100% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has risen 0.2%.

Keywords: rebounders amex:xme spdr s&p metals & mining etf

Ticker(s): XME