Sold United States 12 Month Oil (USL) – Stay tuned for more January 27, 2010
Posted by Marlowe Cassetti in USL.trackback
Stocks gave up a healthy advance and closed slightly lower Tuesday as investors suffered another bout of anxiety over President Barack Obama’s plan to regulate banks.
The Dow Jones industrial average, up 90 points in the early afternoon, closed with a loss of 2.57. The other major indexes were also down modestly.
Uneasiness about Obama’s plan to limit the size and trading operations of big banks pulled financial stocks and then the entire market lower. News reports that Paul Volcker, the head of the President’s Economic Recovery Advisory Board, would testify about the plan before Congress next week, contributed to the market’s turnaround. (market commentary courtesy of AP)
Nothing unusual or special about the sale of USL. It hit its stop loss level today. I’m taking it in stride along with the other recent sales. It is all part of process and yes it does mean a drawdown in portfolio value. This is all within manageable parameters. This is not the time to panic.
In recent days I have made some good progress on the trend following module. It should be ready for prime time any day now. Stay tuned…..
No RSI picks today, Catch you tomorrow.
Comments»
No comments yet — be the first.