Monday, June 1, 2009

Potential XLF breakout


Despite some distribution 1-2 weeks ago, again it is surprisingly looking very possible we see another big move up in financials. Many of the index ETF's, DIA, SPY, IWM have been consolidating in a very suspicious manner.

But XLF looks very much like the last few breakouts. WFC and BAC of the bunch are especially primed. More so WFC.

Since Thursday, have been sitting on FAS.

No comments:

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...