Stock indices higher today – RSI picks financial ETFs IYG & KRE December 21, 2010
Posted by Marlowe Cassetti in IYG, KRE.trackback
A good day today in the markets and the RSI portfolio had a great day too. With that said, RSI generated two picks today:
- Buy 180 shares iShares Dow Jones US Financial Services (IYG); Stop = -$5.55 Target = +$16.66 Volatility = 3.91%
- Buy 330 shares SPDR KBW Regional Banking (KRE); Stop = -$3.02 Target = +$9.07 Volatility = 4.67%
Let’s look at these two financial sector funds. IYG invests in financial services companies. It is a bit less volatile and has substantially less volume than KRE. It has been in a good uptrend since the start of September. It had a great up-day today and it appears to have completed a nice dip presenting a good buying opportunity.
KRE invests in stocks of regional banks and it too has been in a couple month uptrend. It punched through its upper trendline and is on a tear. Both charts have similar patterns of new strength. It appears that financial funds may be back in favor with the investment community.
Will I buy either of these funds? Probably not since the RSI portfolio already holds IYF Financial iShares.
Well there you have it. Catch you later.
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