U.S. stocks closed lower for a third straight day on Tuesday as Europe's fiscal woes and a weak start to tech earnings gave investors little reason to buy even after the recent losses.
Equities bounced briefly following release of the Fed's minutes with comments from Federal Reserve officials suggesting the possibility of more stimulative policies, but the move was short-lived as uncertainty over Europe kept investors away from beaten-down shares. On Monday, stocks posted their worst day in a month.
The Dow Jones industrial average .DJI fell 58.88 points, or 0.47 percent, to 12,446.88 at the close. The Standard & Poor's 500 Index .SPX shed 5.85 points, or 0.44 percent, to 1,313.64. The Nasdaq Composite Index .IXIC dropped 20.71 points, or 0.74 percent, to 2,781.91. (commentary & photo courtesy of Reuters)
Yes, today’s market action weighed on the RSI portfolio. Nothing close to the stop loss limits. However after the bell RSI picked the following:
In the past we have owned other Rogers funds and they have done us well. Let’s take a look at this one. It is thinly traded and has a lot of chop in its price action. It appears to be breaking out to the upside. I would buy the breakout. We do own a metal fund, PowerShares DB Base Metals (DBB) and it appears to be on the same general trajectory, so I have to decide if we need more exposure to metals.
Catch you later.