Just wanted to send out a quick note that I established two new long positions today. I Finally got into RIO at $31.30 and SLT at $23.82. I chose these positions as overseas plays on basic materials/metals play. In addition, the SLT gives me exposure into India, while RIO latches me into the Brazilian market. The charts are courtesy of StockCharts.com
On a quick side note....did everyone catch a glimpse of the 14% down shift in DRYS? Like my post yesterday mentioned, I thought the carriers were headed to lower territory, however I did not expect this type of sell-off so quickly.
