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

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

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

Portfolio model updates

Portfolio updates based on our Tactical Asset Allocation Model: Conservative - total return as of 8/18/2009: 5.3% Moderate Conservative - total return as of 8/18/2009: 3.9% Moderate - total return as of 8/18/2009: 7.8% Moderate Aggressive - total return as of 8/18/209: 25.2% Aggressive - total return as of 8/18/2009: 14.9% Email or call us to learn more, open an account, invest or subscribe to any one of our great portfolios based on our tactical asset allocation models: 1-800-785-4953 . You can find additional details on these portfolio models at IAPeQ.com . 8/18/2009 11:07 AM
Post a Comment
Read more