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.

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Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...