Dion's Tuesday ETF Winners and Losers

Welcome to Don Dion's "Daily ETF Winners and Losers." Be sure to stop by each day to find out which ETFs are gaining or losing.

Winners

iShares MSCI Turkey Investable Market Index Fund(TUR) 5.2%

Turkey's marketplace is witnessing a lift, helping TUR ascend to industry-leading gains. Tuesday's positive action has helped the fund power through its 200-day moving average for the first time since early May.

Although TUR is enjoying some strength, I would encourage investors to use extreme caution here. Macroeconomic issues plaguing this region will likely to cause the fund to continue to behave in a shaky manner.

Market Vectors Gold Miners ETF(GDX) 4.2%

Gold prices are heading higher as investors continue to seek out protection. Leading the climb are the gold miners. GDX's strength is helping it reclaim the ground it lost during its Monday sell-off.

GDX is nearing its previous September highs. It will be interesting to see how the fund performs in the days ahead.

iShares Dow Jones U.S. Utilities Sector Index Fund(IDU) 2.2%

Utilities are carving out impressive gains, benefiting as investors opt for defensive exposure to the U.S. equity markets.

IDU and the Utilities Select Sector SPDR(XLU) have witnessed some impressive action in recent weeks as defense falls into favor. The two funds have ascended to 2011 highs and witnessed respectable gains in our short- and long-term momentum rankings.

Losers

Guggenheim Solar ETF(TAN) -4.4%

Despite the broad market strength, the solar energy industry is struggling to find footing, leading TAN to suffer notable losses. This turbulent fund has had four consecutive days of losses and is currently trading at an all-time low.

I encour! age cons ervative investors to steer clear of TAN. Macroeconomic factors will continue to weigh heavily on its performance.

iPath S&P 500 VIX Short Term Futures ETN(VXX) -2.6%

Despite the fact that investors started off the day digesting Italy's downgrade and a sub-par housing starts report, the market has bounced back impressively, leading the fear-tracking VIX ETN to tread lower.

It will be interesting to see if the market can hold onto these gains as investors prepare for tomorrow's FOMC meeting announcement.

Market Vectors Vietnam ETF(VNM) -1.9%

In the face of U.S. market strength, a collection of volatile emerging nation-related ETFs remain in negative territory. Among those heading lower are VNM, Guggenheim China Small Cap ETF(HAO), Market Vectors Brazil Small Cap Index ETF(BRF), and iShares MSCI Philippines Investable Market Index Fund(EPHE).

All prices as of 2:15 PM EST