Stocks post biggest two-week gain since November – Bought iPath S&P 500 VIX Mid-Term Futures ETN (VXZ) June 18, 2010
Posted by Marlowe Cassetti in DOG, VXZ.trackback
Here’s something for investors beaten down by the market’s sharp declines this spring: The Dow Jones industrial average just had its best two weeks since November.
The Dow’s gain of 16 points on Friday was relatively modest, but it capped a surge of 5.2 percent over the past two weeks that puts the average nearly halfway back to the high for the year that it reached on April 26.
Stocks had a longer winning streak earlier this year, an eight-week stretch that ended in late April, but those gains were more gradual. Then a sharp drop in May and early June brought the Dow down as much as 12.4 percent below its 2010 high, a decline that market analysts call a “correction.” (market commentary & photo courtesy of AP via Yahoo Finance)
**********************************************************************************
After the market opened I monitored yesterday’s RSI pick of iPath S&P 500 VIX Mid-Term Futures ETN (VXZ). After it appeared to put in a low, I bought the required number of shares. We shall see how this trade transpires.
The RSI portfolio put in another small gain today, which was somewhat retarded by my three short funds. They are trading quite far above their stop loss levels. All three were picked by a module that favors long-term holding periods. One of the short holdings is DOG. Look at the chart below and it is amazing that I still hold a small gain on this position.
No RSI picks today. Have a great and safe weekend.
Comments»
No comments yet — be the first.