With gold having successfully bucked the equity downward spiral, as well as having been in its own bull market, MarketWatch reports that “Buyers take a shine to new gold ETF:” Strong demand for a closed-end fund that holds gold bullion suggests that some affluent investors are willing to pay an expensive insurance premium for the ability to take possession of …
No Load Fund/ETF Tracker updated through 6/10/2010
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpIn a reversal from the prior week, the major indexes gained for a change. Our Trend Tracking Index (TTI) for domestic funds/ETFs remains above its trend line (red) by +1.38% (last week +0.52%) keeping the current buy signal intact. The effective date was June 3, 2009. The international index has now …
Rebound Failure
[chart courtesy of marketwatch.com]Yesterday, we saw a repeat of sizzle and fizzle in the market as a solid rebound rally had the Dow up by some 125 points and back over the 10,000 level. As has been the case more often than not lately, the activity during last trading hour took the starch right out of the momentum and down …
Buying Time
It was nip and tuck for a while as the major indexes plunged right after yesterday’s opening. The subsequent rebound attempt held for a change and buying during the last 30 minute lifted the averages (except the Nasdaq) out of the doldrums.As discussed on Monday, the S&P; 500 bounced off its 1,040 support level twice; an encouraging sign for many …
Honing In On Bear Market Territory
When the intra-day mini crash of 1,000 points in the Dow occurred on May 6, most investors thought of it as an aberration and did not consider the possibility that we might actually revisit that price level. Here we are 30 days later, and we have broken through it decisively. Yesterday’s rally attempt was wiped out during the last 30 …
Should You Buy Oil Now?
Several readers have emailed wondering whether oil would be a good buy at this level. The most obvious reason has been the devastating oil spill with all its implications. Let’s take a look at a 2-year chart of oil as represented by USO, the heavily traded ETF: As you can see, oil has gone nowhere in the past year and …