Sunday, June 21, 2009
Potential up move in XLE
Daily and 60 min stochs on both 5,3,3 and 12,3,3 settings
Oversold. Stoch cross on the 5,3, 3 setting on daily for XLE
Lots of bears might be sitting in a boat that could be too crowded
Based on the staggered selloff recently.
Other indexes exhbiting stoch cross on daily.
Still holding $RIG Mar2 and Mar16 calls which are up 100-200%. $shak settling nicely and I have plenty of time with Jun 45 calls
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...