A little bump in the road recently with worldwide equities. Is it time to take some profits or time to buy more?
Let’s be selective to start trimming.
SPDR’s S&P 500 trust Series ETF (SPY) weekly
Price has broken down through the upper channel bracket; the higher upwards sloping white line. Not really a big deal but expect price to test 240 for now.
The weekly chart provides the longer term historical price action from the bottom in 2009.
The daily chart gives us a closer look.
SPDR’s S&P 500 trust Series ETF (SPY) daily
Continue to hold. No worries for now.
A more global look…
Our current portfolio exposure to ETF’s that track worldwide indexes includes Europe, Emerging Markets, South Korea, China, International and India. They have all performed very well since we recommended earlier this year.
I’m recommending trimming tactfully to harvest gains. I’m also considering adding to other positions.
iShares MSCI South Korea Index Fund ETF (EWY) daily
Sell it. Today’s close would be a 5% gain. Too much risk going on here. Cash it in and make some money.
I recommended Albemarle Inc (ALB) on July 26th.
Albemarle Inc (ALB) daily
Bad news…it’s down 6%. Good news…price has come back into support, the upwards sloping green line. If price bounces here with follow through I will be adding to my position. I will let you know of course. Continue to hold.
Running with the Bulls is never easy without a plan.
Continue to hold all other open positions…for now.
Trade Smart,
Don