Bought iShares MSCI Brazil Index (EWZ) – Big up day for the RSI portfolio – RSI buy signal for TAO July 30, 2010
Posted by Marlowe Cassetti in EWZ, TAO.trackback
After jiggering my holdings around I purchased the required number of shares of iShares MSCI Brazil Index (EWZ) this morning. I didn’t fineness this one and wait for a pullback. The model is to take the next trade at the opening. As a good follower, I made the trade. In the immortal words of Admiral David Farragut, "Damn the torpedoes! Full speed ahead!"
I’m now planning what to do next if RSI keeps issuing more buy signals. That is a tough question and it hinges on how much of a portion should I allocate to my income funds. This is a pressing problem. With that said, the RSI portfolio had a big up day today, with the backdrop of a flat, going nowhere market. All but two positions had nice gains adding up to a good finish.
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After the close RSI generated another buy signal and no surprise, another foreign ETF:
- Buy 494 shares Claymore/AlphaShares China Real Estate (TAO) Stop = -$2.02 Target = +$6.07 Volatility = 4.44%
This fund has a narrow focus than the other foreign funds that RSI has recently picked and I consider it a negative for this fund. Also the trading volume is on the light side. Its chart is below.
It has a nice positive upward trend and it handily outperforms the overall US market. Since I already own three far East funds I will pass on this one. Although I am awaking up to the message from RSI, I have to honor the Turtle restriction on correlation of holdings.
Have a great weekend and I’ll catch you later.
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