EEM continues To Outperform The S&P500
On Friday, September 14th I made some bullish comments about the overall market and that I was long EEM and the NASDAQ. As you can see in the above chart, EEM has rallied and made new highs for the year.
I scaled out of a portion of my long position today because my minimum price objective was reached. I will trail a stop below the trendline for the remaining shares that I have long.
You'll also notice how the relative strength line is rising indicating that EEM is stronger than the S&P. EEM and the NASDAQ are making new highs for the year while the S&P has yet to make new highs...In the long run, it pays to position yourself in the strongest markets.
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8 comments:
Hi Kevin,
Since the Nasq bullish move is not supported by S&P500, is this divergence bearish? Or you think the Nasq will lead the S&P 500?
Jordan
Hi Jordan,
I think the S&P500 is lagging and will eventually test the year high..
Love the blog. Keep 'em coming.
(Although I'm not nearly as Bullish as you are.)
TheFinancialNinja
Arent you a little conservative in your price target... the head and shoulders bottom should give you a price target of around 160?
Hi Andrei,
I only took profits on half of my position...I'm still long and holding...There are pockets of weakness in this market (such as the homebuilders) so I think it's best to take some profits when the market gives them to me...
It looks like stocks are bullit proof
kevin:
great stuff..i see that you trade mostly like a swing trader, holding position for a few days/weeks. do you also engage in day trading or do you think it is largely random..there on few blogs on daytrade and they appear to be doing well. what is your take on the matter?
thx
gurlate
Hi Kevin,
Is it possible that you could share a little bit of your view on EUR/USD. It seems it is going up without any stops.
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