Market Correction as the RSI portfolio continues to climb – Bought SPDR S&P Oil & Gas Equipment & Services (XES) March 27, 2011
Posted by Marlowe Cassetti in XES.trackback
This weekend, I heard an interview with a spokesman from IBD. He talked about what to do investment-wise during the current market correction. What market correction? I took a quick look at the charts for the major US market indices and I see a selloff from mid-February to mid-March. It has climbed nicely back to an uptrend again. The RSI portfolio has such strong weighting in the oil and gas sector it doesn’t follow the stock market indices very well. With that aside, VNM & TBT continue to weigh on the portfolio at -0.75R and -0.62R respectively. On the plus side, IWC & IJS lead the pack at +1.44R and 1.32R respectively.
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On Friday, I purchased SPDR S&P Oil & Gas Equipment & Services (XES) for the RSI portfolio. I had an alert set when it broke out of its local channel. This triggered a buy. So here is more weight in the energy sector. I think this will continue to lead higher.
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There were no new RSI buy recommendations after the market closed on Friday. I hope you had a great weekend .. I did.
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