Good news. Nearly every traditional long ETF one can think of is trading at bargain basement levels. The bad news is that what looks like an attractive price today could easily be more attractive (meaning lower) tomorrow or next week.

Still, there are opportunities out there for investors with itchy trigger fingers. The name of the game is to be patient, scale into positions so dollar-cost averaging becomes a legitimate weapon in your toolbox and seek out real value, not value traps.

With those pearls of wisdom, here are five ETFs bargain hunters might want to have a look at.

iShares S&P Global Energy ETF (NYSE: IXC ): Not as global as you might think because Exxon Mobil (NYSE: XOM ) and Chevron (NYSE: CVX ) account for nearly 24% of the ETF’s weight, but the iShares S&P Global Energy ETF does offer ample exposure to non-U.S. oil companies, too. After leading the market higher earlier this year, energy stocks have been a drag on the way down.

Fears over slowing global economic growth have pinched oil prices, but the long-term demand picture remains strong. Trading almost 30% off its 52-week high, IXC is an excellent way for investors to gain exposure to a broad swath of integrated oil names. Plus the current yield is about what you’d get on Treasuries with a better chance for capital appreciation.

Market Vectors Agribusiness ETF (NYSE: MOO ): MOO is in a very similar spot to IXC: Loaded with high-beta fare, home to a lot of stocks with compelling long-term stories and trading nearly 30% of its 52-week high. The problem with MOO is that decline could worsen if the ETF drops below $40, which could happen as soon as today. With that in mind, even eager bargain hunters should wait for MOO to either confirm a breakout or for the ETF to fall into the mid-30s.

iShares Silver Trust (NYSE: SLV ): Admittedly, the industrial demand part of the silver equation has not been great in recent months. We know that, but if most of silver’s declines this are attributable to margin hikes by exchange operators, that doesn’t mean anything bad about silver’s fundamentals.

Put it this way: SLV tracks the price of an ounce of spot silver. SLV trades under $30. Many price forecasts for silver are in the $50 area. Some are in the $60 range and some are far higher than that. Gold will drag silver higher and $30 for SLV will have been a steal.

First Trust ISE Cloud Computing Index Fund (Nasdaq: SKYY ): The First Trust ISE Cloud Computing Index Fund is the newest ETF on this list and the fund has been struggling since its July debut. That said, SKYY is home to several triple-digit tech names many investors would love to own, but can’t afford to and trading just over $15, SKYY is like a call option on the cloud-computing theme.

Market Vectors Indonesia ETF (NYSE: IDX ): The problem here is two-fold. Indonesia has been perhaps the best performing emerging market in the world this year, but has been tarnished by the slack performances of other emerging markets. That’s problem number one. Problem number two is that the ETF keeps falling making it hard to pinpoint a good place to buy. Advice: Definitely scale into this trade and buy at multiple prices and definitely do NOT buy IDX right this minute.

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