This weekend brings celebrations of two of the most important religious holidays in the world: Easter and Passover. And given the way stocks have acted this week, a time that is historically bullish for equities, it might be a good thing that U.S. equity markets are closed tomorrow in observance of the Good Friday holiday.
In the essence of not being all doom and gloom, there are some ETF and ETN opportunities with Easter/Passover ties worth considering at the moment. This list could prove particularly useful for both bulls and bears because we’ve mixed in valid long and short opportunities. So let’s get on with it, starting with the…iPath DJ-UBS Cocoa TR Sub-Index ETN NIB +0.62%
Indeed the iPath DJ-UBS Cocoa TR Sub-Index ETN makes frequent appearances on any list of holiday-related ETFs/ETNs when the holiday involves above average chocolate consumption. So when the kids are enjoying their Easter baskets on Sunday, think about NIB. Down over 33% in the past year, the ETN may be a technical long at the moment as the chart is showing a double bottom formation.