An up day – RSI picks iShares Dow Jones US Oil & Gas Ex Index (IEO) October 25, 2010
Posted by Marlowe Cassetti in IEO.trackback
The market continues its wining ways with a respectable gain, not big but decent. The RSI portfolio outperformed all three major market averages today capitalizing on its foreign holdings, gold miners, and agriculture. Good job!
RSI generated the following buy signal after the market close:
- Buy 155 shares iShares Dow Jones US Oil & Gas Ex Index (IEO); Stop = -$6.44 Target = +$19.31 Volatility = 4.79%
IEO has been in a downtrend which ended in late September. It has made a recent correction down to its lower channel trendline. Money has been flowing into this ETF which makes me believe that this out-of-favor sector may be on the move once again. Looks okay to buy at this price.
Catch you later.
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