Wall Street ends a strong quarter optimistic on payrolls – Set trailing stop on iShares Russell Microcap Index (IWC) March 31, 2011
Posted by Marlowe Cassetti in IWC.trackback
U.S. stocks ended a solid quarter with the barest of moves on Thursday, as investors looked ahead to Friday’s U.S. jobs report to provide a catalyst to push indexes to new highs for the year.
After gaining 5.4 percent in the first quarter, the benchmark S&P 500 hovered near 1,330, a level the index has been unable to break despite several attempts in the past month. A strong payrolls number may tip it over and technical momentum could kick in, lifting stocks further. (commentary & photo courtesy of Reuters)
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You have heard this story before … Today I got a signal that iShares Russell Microcap Index (IWC) had exceeded the +2.0R level. I then entered a trailing stop 0.3R, which is a simple calculation. Just divide 0.3 times your risk by the number of shares you own and you have the trailing parameter in dollars per share. So from this point forward, IWC is on autopilot.
Today the market ended mixed but the RSI portfolio had a good day which is tied to crude oil 30 month high. The portfolio has a heavy weighting in the energy sector ETFs. It appears that RSI has picked some good ETFs that are placed in the right areas.
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No new RSI buy signals today. Catch you later.
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