GXG

Emerging markets, Latin America, and especially my beloved Columbia ETF, GXG, took a hit today.  GXG was off 3.2%.  I found no alarming news on the net.  GXG is up 55% for the year so surely it can be forgiven one terrible day.  Here's a daily GXG chart.

Looks ominous.  GXG established a lower low and moved south of some moving averages.  Now here's the weekly chart for the same period:

This chart looks comparatively benign and a sense of serenity returns.  Still, what to do now?

The weekly chart indicates support at 41.90.  My "kill switch" sell signal of a 12% weekly closing price decline from the previous closing high gets me to 41.97.  I'm setting a mental stop of 41.90 for GXG unless other worrisome factors develop. 

Enid bought GXG on Aug 16, 2010 @ 38.18.  Poor Enid's split personalities "Trader" and "Allocator" are exerting their persona this evening.  Trader wants to sell and take profits.  Allocator wants to sell only to prevent big losses or reallocate.  For decades there was a third personality, "Buy and Hold", but a lobotomy in the Fall of 2007 cured Enid of that demon.