Dodging the bullet – RSi picks ProShares UltraShort 20+ Year Treasury (TBT) February 18, 2011
Posted by Marlowe Cassetti in BAL, TBT.trackback
Talking about dodging the bullet, did you see what BAL did today? It dove 11.66%, just one trading day after it hit our trailing stop. Of course, due to the random nature of price movements it could just have easily gained 11.66% today. The markets do have a crap shoot nature to them, so we cannot lose any sleep over the spin of the roulette wheel.
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Stocks posted their third straight week of gains at the close today. We do love the bull market euphoria that is beginning to emerge. I have to remember to not get caught up in the excitement. RSI follows a rational methodology that doesn’t include emotion.
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After a long wait, RSI finally came up with a buy recommendation today. And here it is:
- Buy 174 shares ProShares UltraShort 20+ Year Treasury (TBT) Stop = -$5.74 Target = +$17.23 Volatility = 5.72%
Let’s take a look at this fund. It has been on a good uptrend and it appears to have completed a bit of a dip and it may be on its way to resume its trend. It traded 15 million shares today, so it is correct to say that it is well followed. The lower plot indicates that the fund may be starting an accumulation phase. I believe that RSI may have made a good pick and I wouldn’t have a problem buying it here.
Well enjoy the three day weekend. I will catch you later.
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