The market ended the week on a nice up-note and RSI joined in the chorus with another international commodity related pick. It is interesting to map out its recent picks and their theme, which has mostly been international commodity. So here is today’s pick:
- Buy 1435 shares ELEMENTS Rogers Intl Commodity ETN (RJI) Stop = -$0.70 Target = +$2.09 Volatility = 3.63%
This fund trades on decent volume and has a low volatility reading. Its chart illustrates that it is on an upward path reflecting the progress of the global commodity market.
Looking at RJI’s price chart since late August, I can imagine it punching through the upper, green trendline. If you wish, you can wait until its price retraces to a lower level and then buy on a dip. I wouldn’t be opposed to buying at the current level. The choice is yours.
About a month ago RSI picked ELEMENTS Rogers Intl Commodity Agri ETN (RJA) and it was bought for the RSI portfolio. Since that time it has done quite well. The position has gained 4.27% which hasn’t been too shabby for this short holding time.
Have a great weekend. I’ll catch you later.
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