T2108 closed at 31.7%, a level last seen in mid-August. The 2-day loss of 24.9% qualifies for quasi-oversold conditions.

In a matter of weeks, funds like Vanguard Emerging Markets (VWO) surged forward by as much as 8.5%. Do investors suddenly believe that Russia, Brazil and China will collectively get their developing economies back on track?

Taking a look at some of the year-to-date (ytd) ETF winners and losers, we see some interesting names are outperforming and underperforming the S&P 500 Index (SPX) (SPY) in the early going of 2014.

We point out 3 ETF's that you could look at entering now as they are way out of favor and very oversold.