Wall Street started the week with a rally as investors regained some optimism over the weekend, although the euro zone debt drama has by no means been resolved. Tuesday was a wild day, as equity indexes gapped much higher at the open, but failed to hold onto gains for the whole session and sold-off hard during the final hour of trading. Volatility is still lurking around the corner, and this was made crystal clear today as domestic equity indexes plunged lower with no major news headlines behind the sell-off. Gold is losing a bit of its luster as the precious metal sank deep on Monday, with futures prices hitting a low of $1,535 an ounce. Prices for the yellow metal settled just above $1,600 an ounce today while crude oil drifted back down to $80 a barrel in late Wednesday trading.
Checking In: Trading Ideas
This week, our technical trading ideas included long recommendations in an emerging market ETF, a domestic energy sector fund, and finally, our third fundamental pick focused on a defensive fixed-income product. Below, we highlight how our trade recommendations from Monday’s Insider have been holding up in this rocky week:
Trading Idea #1: Long AMJ
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