BlackRock Floating Rate Income Strategies Fund (FRA) and Eaton Vance Floating Rate Income Fund (EFT)...
Buy Low and Sell High Fan? If so, Check Out These Two Assets
07/16/2015 7:00 am EST
For traders and investors who subscribe to the notion of "Buying Low and Selling Higher,” Chris Kimble, of Kimble Charting Solutions, takes a technical look at the Year-to-Date best and worst performing assets in relation to the, so far, relatively quiet yearly performance of the S&P 500.
The S&P 500 has been pretty quiet so far this year, up just 3%. The same can’t be said for Gasoline or Coffee.
Do you believe in the idea of “Buying Low & Selling Higher?” This post today looks at the year-to-date best and worst performing assets.
The chart below updates the current status of US Gasoline ETF UGA
The strong move up this year took UGA so far, stopped on a dime at the top of this rising wedge and its 38% Fibonacci retracement level. Of late, UGA has been soft, breaking below the bottom of the bearish rising wedge formation. Earlier this year Premium & Sector members bought UGA at the end of January and harvested gains after a nice rally.
What does the weakest asset YTD look like?
Coffee Conditions in December of 2013: Coffee hit 12-year rising support, momentum was oversold, and few investors were bullish Coffee after it had declined almost 65% in two years. What happened next? Coffee doubled in 90-days.
Current Coffee Conditions: Coffee’s decline has taken it down to a rising support line that has been in play since 2002, it looks to have formed a bullish falling wedge with momentum oversold. Bullish opportunities look to be in play should Coffee buyers step forward and break overhead resistance.
Even though the S&P 500 has been quiet this year, many assets have had big moves, such as Gasoline. Did you realize that Crude Oil and the Yield on the 10-year note both rallied over 30% this year in short periods of time?
By Chris Kimble, Founder, Kimble Charting Solutions
Related Articles on ETFS
iShares Russell 2000 (IWM) is an ETF that tracks the Russell 2000 Index (RUT). It is the most liquid...
O’Shares Global Internet Giants ETF (OGIG) is the newest addition to O’Shares’ gro...
The iShares MSCI Brazil ETF peaked on January 25 and has since declined 30.8%, officially entering c...