Tuesday, April 28, 2009

Potential XLE breakout


http://stockcharts.com/h-sc/ui?s=XLE&p=D&yr=0&mn=6&dy=0&id=p07755499497&listNum=1&a=158652097

Diminishing volume and CMF is increasing while price stays sideways. It looks like accumulation.

thurs apr 30. Failed breakout today. Instead gapped up and reversed mid day on solid volume. Very well could have been a fakeout and the pattern may fail

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May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...