Monday, March 26, 2007

ETF update for Tuesday March 27

SPY - Did pullback to it's daily moving average support, which all the index ETF's did. Went long at 143.52, the trigger was a moving average crossover on the 15 min. chart.

GLD - Streetracks Gold, did pullback to moving average support around 65, which triggered a long(see next chart).

GLD -Streetracks Gold, trend did turn bullish on 60 min. chart. Went long at 65.71-74, a little before the price I highlighted in my prevous post. My initial stop loss is at 64.88, which is below support.


FXI - The daily chart shows that the moving averages have crossed up and price has moved through the down trend line, unfortunatly I was stopped out of my position(see next chart).



The 60 min. chart shows my entry and exit. I exited my position before my stop loss was hit Monday morning. Everything was selling off hard and I made a decision to get out while I still had a small loss. As it tuned out was maybe a mistake, but one I can live with. My loss was $1.43 and the first one since I started this blog on February 15th.




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