As I spoke yesterday about the market, I took action today and sold three of my holdings. Those are Regional Banking ETF (KRE), Automatic Data Processing (ADP), and Paychex Inc. (PAYX). Let's go over why I sold KRE.
On 10/5/09 commentary, I bought KRE thinking that the worse would be over for the regional and assume that the key technical level would hold. That assumption didn't hold true. The commercial real estate which are the large part of regional banks' assets are under stress still. As Wilbur Ross sees 'Huge' Commercial Real Estate Crash ahead. The chart below shows the buy and sell pattern.
Art
Print this post
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.