did you guys see the late day Point C through the pivot on XLF yesterday? everyone has been so bullish in the financials lately, i thought for sure we would gap down today. but instead we gapped up and ripped higher. i was hoping to see one of these "once in a blue moon" trades depicted in the book
I have some strong number lines on XLV and several stocks within the sector JNJ, MDT, PFE, NVS, CELG Take a look. Healthcare seems to be screaming right now along with the financials
Yea healthcare is strong, not the ideal trading vehicles...at least for the way I do things. Leadership is sitting in the industrials, transports, and some of the steel names. Financials have had a great run into earnings. This feels like a sell the news type of scenario to me, but who knows? WFC tomorrow, should be fun
Here is a monthly chart on XLV: We had a major long term breakout last year in the sector. As Shan said, it's going to look slow and boring on a daily basis, but long term, this breakout has legs. Better suited for a long term IRA hold.
Gold getting slammed hard giving up all the weeks gain. Anyone hear a reason for the drop? I haven't which makes it seem like were going lower.
nope, i'm not sure either. i bought some GDX calls today on the dip. it behaved much better than the GLD today
Well, the relative weakness in AAPL is quite apparent. Spoos barely down 3 handles and AAPL down 18 pts. The good news, perhaps, is AAPL tested the QTR A down today at 494. However, I rather buy a failed QTR A down when the stock is showing relative strength, not weakness. I still think ES could come off 30 handles pretty fast and AAPL would probably tag 450 if that happened. To say this stock is broken is an understatement. My weekly A down for AAPL is around 491, right around the QTR A down. This area HAS to hold. But honestly, there are much stronger stocks out there right now then this one.
WTI/Brent is collapsing. Now down to $17 from $26. This is a huge move in the spread over the last few months.