Friday, February 12, 2010

Potential XLF squeeze


Im encouraged by the buying happening after the steep morning drop and then general churn happening over last week without the bottom falling out.
I think there is a good chance of a pop next week
its also OPEX

as of 330pm
but we are printing a hollow reversal candle
selling volume not super heavy on the ETF's
VIX and SPY are also both down

green vertical lines indicate other reversal candles on low vol.

July 11 - GLD sucks

stopped out of GLD yesterday for -25%.  Holding off on reentry and maybe will enter if we drop another level. SPY on the other hand is crus...