Financial sector pair opened

iShares Real Estate (IYR) versus iShares Broker Dealers (IAI)

The pair position in IYR versus IAI as defined last week was triggered by Friday’s close of the RSI above the intervening high.

The position is opened with IYR/IAI = 1.97886. The stop loss is below the 05 September low, which is 3.3% lower, quite a tight stop.

Weekly chart

Agnico Eagle Mines v S&P 500 Index

The remaining half of this is going to be closed. The pair rallied strongly on 18 September but gave up all of its gains over the next two days. This position has reached the stage of hope and so it is best closed. As I write, AEM is at $27.15 and the S&P 500 Index is at 1,699.6.

The total loss on the trade (two halves) is 9.3%. There was a 15.2% gain on the outright position in the Philadelphia Gold & Silver Index, opened on 19 July.

Daily chart

Other trades

The Performance Ranking trades that have been entered [PPG, OI and IFF, all short against their sector ETF SPDR Materials (XLB) ] all develop unspectacularly so far. The Performance Ranking trades within the S&P 100 Index have not been triggered.