QQQ and QLD both track the NASDAQ 100; the latter, as an ultra fund, is turbocharged. I'm already in a bear position in the S&P 500, via SPY, and taking a bull position in the NASDAQ seemed to only negate my present holding. So I passed on these two.
EWI, which tracks Italy, seemed at first glance to be nearing the end of a rally within a correction. Also, its options are a bit too illiquid for my taste.
That left International Paper (IP). By my count it remains in an uptrend, although it is presently within a corrective wave of that trend. Looks interesting.
I'll post an analysis of IP prior to the market open on Friday, New York time.
References
My trading rules can be read here. And the classic Turtle Trading rules on which my rules are based can be read here.
Disclaimer
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
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