A new exchange-traded fund from PowerShares and Dorsey Wright & Associates promises to be truly technical, tracking 100 stocks on peer-performance and patterns, rather than executive interviews and financial statements, according to MarketWatch."When people hear technical analysis, they think of black magic or something," Tom Dorsey, the Richmond, Va.-based firm's president, said. "But our method is really about measuring supply and demand in the marketplace and quantifying those trends. Our process is very long-term in nature."

If the ETF had been open from 2001, its method would have beaten the S&P 500 8.76% per year on average between 2001 and 2006. Expenses have been capped at 0.60%, and are rebalanced quarterly.

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