Stocks fall as European financial crisis expands – RSI feels the pain May 14, 2011
Posted by Marlowe Cassetti in PDP, TUR.trackback
Falling commodity prices are widely blamed for driving down stocks. The Standard & Poor’s 500 index has lost 1.9 percent so far in May. Other indexes are down more than 1.5 percent for the month.
The Dow fell 0.3 percent over the week and 1.7 percent for the month. The Nasdaq was flat for the week and is down 1.6 percent for the month.
The Russell 2000, an index of small companies, ended the week up nearly 0.3 percent, but is down the most so far this month, declining 3.42 percent. (commentary & photo courtesy of AP)
This has been a down week for the RSI portfolio with one position taking a stop loss hit. Since our last post was last weekend, let me recap the portfolio action. On Thursday, our position in TUR was stopped out for a –1.0R loss. On Friday PDP hit its trailing stop and was sold for a +2.0R gain. Although trading netted a +1.0R gain for the week, the NAV of the remaining funds lost ground with the falling stock and commodity markets. We shall see what the future brings.
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