Another RSI Buy iShares MSCI Brazil Index (EWZ); Bought iShares FTSE/Xinhua China 25 Index (FXI) & SPDR S&P Emerging Europe (GUR) July 29, 2010
Posted by Marlowe Cassetti in EWZ, FXI, GUR.trackback
Okay, RSI continues to recommend another foreign ETF, adding to the significant tell. So here it is:
- Buy 89 shares of iShares MSCI Brazil Index (EWZ) Stop = -$11.12 Target = +$33.37 Volatility = 6.37%
Looking at the chart below, it has made a good move from its mid July low. It has been beating the market since the May low, and most likely will continue its upward trend. I cannot buy it right now unless I shift some funds funds from the income part of the portfolio. I think I need to pay attention to this significant tell.
************************************************************************************************************
As detailed in yesterday’s blog I bought the two funds, FXI and GUR soon after the morning opening. Why didn’t I wait for the obligatory “buy on dip” event? The RSI methodology is predicated on buying at the next day’s open. I really shouldn’t be “finessing” the buy which isn’t in the simulation. What you do is your own business. Just my thought.
************************************************************************************************************
So how is my divorce from external influences going, you ask? I’m starting to get comfortable with it. My list of downloaded podcasts has shrunk to just a few after I excised all the “what’s happening in the markets today” programs. What’s tough is not clicking on the Yahoo Finance and TD Ameritrade buttons during the day. Now I restrict my clicks to only those necessary to performing the RSI process.
Have a good evening and I’ll catch you later.
Comments»
No comments yet — be the first.