Nasdaq ends up on chipmaker earnings – Took a flyer on GDX & EWJ July 22, 2011
Posted by Marlowe Cassetti in EWJ, GDX.trackback
Investors poured into tech shares on Friday as promising chipmaker earnings and optimism a solution was on the horizon for the U.S. debt stalemate triggered a move into growth-oriented shares.
Dow Jones industrial average .DJI fell 42.95 points, or 0.34 percent, to end at 12,681.16. The Standard & Poor’s 500 Index .SPX was up 1.22 points, or 0.09 percent, at 1,345.02. The Nasdaq Composite Index .IXIC was up 24.40 points, or 0.86 percent, at 2,858.83.
For the week, the Dow ended up 1.6 percent, the S&P 500 gained 2.2 percent and the Nasdaq roe 2.5 percent. (commentary & photo courtesy of Reuters)
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The RSI portfolio was up smartly today, outperforming the major averages. It was boosted by a 4.4% gain in Ultra Semiconductors – USD. Three positions had fractional percentage losses. Today I purchased both GDX and EWJ which were recently picked by RSI. I thought I got a good price on each. It will be instructive to see how they turn out.
Have a great weekend and I’ll catch you later.
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