Skip to main content

Fade to Black

The markets started strong yesterday then faded, but ended slightly in positive territory yesterday. Again that tug-o-war, and again, we are seeing oil prices skyrocketing for no reason other than greed, in my opinion. As the world largest consumer of energy products, the American consumer is really at the mercy of the greedy oil cartels and now institutional oil traders. It just makes me so angry to see how the markets are so easily manipulated. Oil up again at $73 a barrel by noon yesterday.

The ProShares Technology Fund (NYSE ARCA:ROM) experienced heavy trading but also lost steam in the last 30 min of trading yesterday. Here is a great 2 day technical chart of the fund in a short burst to the upside. Pinpoint the buy signal price if you can.

Correction: Barclays Global Investment Unit which includes the iShares portfolio was sold originally to CVC Capital partners for $4.4 billion but Barclays, PLC renegotiated a better deal with US fund manager Black Rock, Inc for $13.5 billion which recently closed.
Labels:

Comments

Post a Comment

Popular posts from this blog

Portfolio Update

By Rick Walter I have posted a new Biotechnology portfolio . It's total return as of November 25, 2009 is 3.4%. However, to download and use it you will have to subscribe to the portfolio, of course. On an important note, I consider each portfolio to be well diversified in its particular sector but I've recently decided to add stock futures and options positions to each portfolio which will increase each portfolio's return but lower the risks going forward.
Post a Comment
Read more

Morning Update

By Rick Walter Still working on putting together a strong biotech portfolio. Here is a good general article on the state of the biotech industry that was posted yesterday on the online Wall Street Journal's site- Biotech Stocks Hot Right Now, Ho-Hum in the Long Run.
Post a Comment
Read more

Diversification and Risk

I am always trying to come up with new combinations of investments for the next exciting portfolio. Lately, I've been sort of stuck. The norm would be to build something like a QQQ portfolio , a Russell 1000 , or a Russell 2000 portfolio , maybe even a Mid-Cap or Small-Cap portfolio . Boring stuff if you think about it. I could get a little radical and try to build a pop culture type theme portfolio like the Sopranos portfolio , the Donald Trump portfolio - "your fired", or the Obama vs. Dick Cheney portfolio - a long/ short portfolio of course, with lots of defense stocks on the Cheney side of the portfolio. How about a Weapons of Mass Destruction portfolio - that would be a derivatives based portfolio with lots of CMOs'- sub-prime mortgages in the mix. Heh-heh-heh! We could really get creative and produce some wonderful stuff, but I don't know if they would make any money. Or maybe, I could build a portfolio such as a moderate Mid-Cap portfolio and just give it...
Post a Comment
Read more