Stocks end mixed – Bought Market Vectors Vietnam ETF (VNM) & RSI picks OIL December 17, 2010
Posted by Marlowe Cassetti in OIL, VNM.trackback
The week ended mixed today. The RSI portfolio had an outstanding day with strong showings in the metals and commodities.
Today I purchased a position Market Vectors Vietnam ETF (VNM). I saw some price recovery and I jumped on it. Now the RSI portfolio holds Asian ETFs in Taiwan and Vietnam. We shall see how all this transpires.
FYI – Today another module gave a signal to buy VNM.
After the markets closed RSI picked the following:
- Buy 334 shares iPath S&P GSCI Crude Oil TR Index ETN (OIL); Stop = -$2.99 Target = +$8.97 Volatility = 4.82%
This pick exemplifies RSI’s affinity for the energy sector. OIL has been in a upward sloping channel since late August. Currently it appears to have taken a pause which just might be a good opportunity for a buy. Until lately the money has been flowing into this sector. There is a good chance the upward trend will remain intact. If the RSI portfolio wasn’t already over-weighted in the energy sector, I would consider this for the portfolio.
Have a great weekend.
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