Weak weekly market wrap – What to buy next? August 13, 2010
Posted by Marlowe Cassetti in JJC, KOL, PSP, RJA, SCZ.trackback
The headlines are heralding the four day losing streak. The RSI portfolio had a good up day today, so I don’t look at today as a losing streak. But right now the pressing question is, What to buy next? The choice, for me, is the following recent RSI candidates:
- ELEMENTS Rogers Intl Commodity Agri ETN (RJA)
- It has recovered nicely and has continued its uptrend
- Good strong volume
- Would be a good portfolio diversifier
- PowerShares Listed Private Equity (PSP)
- Still heading south
- Trading on low volume
- I like the concept
- iPath DJ-UBS Copper TR Sub-Idx ETN (JJC)
- Consolidating for the last few days
- Trading on low volume
- I like copper in a global market recovery
- Market Vectors Coal ETF (KOL)
- Could be completing the dip
- Should do well in a global market recovery
- iShares MSCI EAFE Small Cap Index (SCZ)
- Could be completing the dip
- International small cap has a strong performance history
I have to pick two. One I will buy soon, the other I will buy after jiggering around some of my funds. With the pros & cons, I have to go with RJA as my prime choice. Here is the chart.
It certainly, to me, looks strong and it is beating the market. RJA is a “must buy” for my portfolio. The second choice is a tough choice. I lean toward JJC but the low volume is a problem. I have some time to wait.
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No new RSI picks tonight. Have a great weekend.
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