Stocks Fall on Concerns – Monitoring DBC February 25, 2010
Posted by Marlowe Cassetti in DBC.trackback
Stocks backtracked from an early plunge Thursday but still closed lower on concerns about lingering economic weakness in the U.S.
Investors were also uneasy about the possibility that Greece’s rising debt problems might spill over to other countries. But the dollar, which spiked early in the day as investors sought safe investments, came off its highs. And that signaled that investors, at least for now, had lost some of their fears about overseas economies.
The Dow Jones industrial average closed down 53 points after having fallen 188. Treasury prices, like the dollar, rose as investors sought safety.(commentary & photo courtesy of AP)
I have been monitoring DBC most of the day as the market has tumbled. Despite its retreat, I am still interested in DBC but not until I see some signs that it has started on a positive path. I should point that DBC was selected by RSI via the trend following module which means that it has detected a positive change in trend. So until I see a resumption of an ascending trend I will hold off on buying DBC. At the end of the day DBC was gapped down 1.69%, see below.
After the close there were no RSI picks. Catch you after the market closes.
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