There was a breakout today of the $RIENG and the XLE. I think we have 20 points up to go on the ERX or about 40-50% gain from here.
I think you post a lot of articles without looking at some of these technical setups. I want you to take a look at the $XOI on your charting system. You tell me if thats a bullish or a bearish chart. You also tell me when the $XOI has ever corrected. My chart goes back to 1994 and I only see 3 major corrections and then what happens after those corrections? The answer is it moves higher. This one is a no brainer.
I am going to give a gift to all those who decided to read this thread. You will either get a 3-4% loss or a 50+% gain. Tommorrow, wait for a bit after the open and see if this index pulls back. Wait until the index pulls back to the line. It may or may not. In any event, buy the ERX when support is established at the line. You will probably get in at 42. Then set your stop at 2 points under the basis price. Once price has risen to over 3 points over your basis, then place a trailing stop for 3 points. The most you can lose with this trade is maybe 3-4% if price does not rise from your basis. When price rises 3 points, then the most you can lose is 0%. The gain can be 50% or greater. The time to rise to 50% might take a month or so. Thank you for reading this thread.