It is a volatile time to be in the markets, but no time for pity. The Brazilian stocks all have bounced nicely off their 50 day M.A., but, with volatile as King, I would not take my eye off of them just yet. Let me take you through some of the story stocks.
Closed Positions:
iShares Singapore Index - EWS Added @ $14.30. Removed on Nov. 14, 2007 @ $14.30 for No gain or loss. Mentioned by David Baker on 9/19/07. Spent 4th day below 50 day M.A. and showed few signs of recovery.
Powershares Intl. Dividend Achiever PID - Added @ $20.95. Removed on Nov. 14, 2007 @ the closing price of $21.06 for a gain of $0.11 or 0.53%. Mentioned by David Baker on 9/19/07. Almost the exact same story as EWS, and the small dividend is not enough to keep me waiting.
Penalty Box
China Mobil CHL - Has broken through its 50 day M.A., but it looks like near-term resistance is $94.75.
Core Labs CLB - Is above the 50 day M.A., but it may make a run for south of the border soon. Watch $130.25.
China Medical CMED - Has pushed through its 50 day M.A., but it may test it again before the week is through. There looks to be Support @ $40.75.
Cypress Semi CY - $30.90 is the 20% trailing stop. Hovering above 50 day M.A.
PowerShares G10 Currency ETF DBV - After closing above its 50 day on Tues., it finished Wed. below 50 day M.A. I may put this on the chopping block soon.
Devon Energy DVN - Remains perilously close to its 50 day M.A.
Focus Media Holding FMCN - Continues to bounce near 50 day M.A.
RS Corp. URS - While still below its 50 day M.A., two good bits of news give some hope. They were recently added to the S&P Mid cap 400 index, and Washington Group shareholders voted to approve the pending merger this morning. For these reasons, it will receive a temporary reprieve from the chopping block.
All the former members of the Penalty Box have made significant jumps over their 50 day M.A. and will continue to be monitored closely Best of Luck!
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1 comment:
Now thats excellent stuff.
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