Thursday, June 11, 2009

Industrail Index - Canada

Current Price - $79.70 (CAD).
Industrail Index ($SPTIN) makes a good buy right now. At the time when most of the market has run up and need some profit booking. This one looks good on technical basis. Copper and Aluminium chart further favors the $SPTIN, if someone wants to attach macro fundamentals to the stock. RSI is showing strength. Its is close to its 50 day SMA, so one can keep 50 day SMA as a short term stop loss. This trade is for the ones who missed the current rally and want to be in somewhere. There is a risk but as compared to Energy, Financials, Minerals and IT, this index looks slightly better in terms of risk. Be strick and stop out if it comes under 50 day SMA.

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