Thursday, January 28, 2010

EFA and EWY hit the daily stops

The DOW dropped another 116 points and S&P 500 lost 13 points. Both EFA and EWY hit the 8% stops at the market closed on the Ocean Portfolio. Normally the stop applies to the weekly chart which follows the market closed of the week (Friday closed). I will wait until tomorrow market closed to take action if appropriate. At this point, it doesn't look good but I just stick to my rule.
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2 comments:

  1. TrickPonyJanuary 30, 2010 at 1:51 PM

    Is the Ocean Portfolio all in cash or is TUR still a hold?

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  2. Ocean PortfolioJanuary 30, 2010 at 5:48 PM

    Kurt,

    TUR is still a hold for both Ocean Portfolio and Traders Pick. I will continue to watch the 8% stop level and will exit this position if it hits. Then I will pay more attention to the inverse ETFs at that time. Again, please note that my blog is only for entertainment purpose and nothing else. Thanks for visiting my blog.

    Ocean

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