Today in the market, Friday May 23, 2008: On the eve of a three day weekend the market sold off. Not a good sign, but the volume, as expected, was light as traders took off early.
RSI’s Themes: Not a lot of anything, must be the markets lethargy today. Look over RSI's picks; they are many of the same old names. Nothing new.
ETF/CEF Medium Volatility:
- FXY - CurrencyShares Japanese Yen Trust
Stocks Medium Volatility:
- SDA - Sadia S.A.
- TAP - Molson Coors Brewing Co.
Stocks High Volatility:
- TELOZ - Tel Offshore Trust
Catch a Falling Knife:
- DUG - UltraShort Oil & Gas ProShares
I put all five selections on the same chart. RSI last picked SDA back on January 9th and it has since gone up about 55% in less than six months...not too shabby. There must be something to the RSI methodology?
Have a great and safe Memorial Weekend.
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2 comments:
I dont think that DUG( UltraShort Oil & Gas ProShares ) is a good buy given the current skyhigh oil prices
of course, corrections in oil prices can still occur but in the long run, its oil will continue to increase
Read the reasons for oil's rally at
http://financialmarket.wordpress.com/
Let me clarify what the Catch a Falling Knife (CFK) is all about. Within the RSI methodology there is an algorithm, which identifies potential bottom fishing candidates. I call this algorithm CFK. However I never recommend these as buy candidates because of the highly speculative nature. I have a couple of loyal followers of this blog who lean towards bottom picking. Bottom line (excuse the pun) is to consider the CFK candidates at your risk.
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