well WHS I will post the normal RRL charts as a matter of course; however if you recall I had been stating recently about the tide and will a rising tide raise all the boats in the harbour well as you can see it did not... The last couple of weeks had been a major rally in the markets, oil & miners leading the way, but unfortunately RRL failed to rise with this tide.
it appears that I am not the only one had recognised the worrying signs, here is an extract from the article "Rally to nowhere?" to which I have included the link below;
"Over the last couple of weeks, I have been discussing the potential for a short-term rally in the markets. That rally has now occurred and as I addressed this past Thursday: "As you can see, the markets did retest the late August lows, and when combined with the very oversold conditions, led to a frantic 'short covering' rally back to previous resistance. It is worth noting that the recent market action is very similar to that of the August decline and initial rebound as well."
Portfolio Management Instructions
Repeating instructions from last week, it is time to take some action if you have not done so already.
1) Sell "laggards" and "losers" in FULL. These are positions that have performed very poorly relative to the markets. Positions that are out of favor on the run-up, generally tend to fall faster in declines. (Energy, Industrials, Materials, International, Emerging Markets, etc.)
2) Trim positions that are big winners in your portfolio back to their original portfolio weightings. (ie. Take profits) (Discretionary, Healthcare, Technology, etc.)
3) Positions that performed with the market should also be reduced back to original portfolio weights.
4) Move trailing stop losses up to new levels.
5) Review your portfolio allocation relative to your risk tolerance. If you are aggressively weighted in equities at this point of the market cycle, you may want to try and recall how you felt during 2008. Raise cash levels and increase fixed income accordingly to reduce relative market exposure.
@ 0.54 I don't think there is much doubt it was a buy but I will say the same thing as I would have had it been a sell, how can such a small late day trade (16:28:450.5416,90091.26) have such a disproportional affect on the market?
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