So much easier to like the long side with the financials behind your back
- Posted by admin
- on March 11th, 2012
Having conviction on the long side (which is essential when it comes to buying pull-backs) is a lot less stressful when financials act this well. We’re above all major moving averages now on the $XLF on daily and weekly. Note this 15 area on the XLF has been a critical area for years. Digestion here is normal and healthy. Our guess is that once 15 is gnawed at a bit more, we’ll lift off from that level to the next resistance level at 17. And if we pull-back in the digestion phase, first major support comes in at 14.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
- Update III: Now what?
- Will it be any different this time, part II
- Will it be any different this time?
- The perfect chart and goal
- Government shutdown/Debt crisis in perspective — see yellow box
- John Cleese telling it how it really is
- Bit of monthly perspective on the Russell
- Keep swimming but with an eye on the shore
- Make peace with not catching every move
- 21 days and counting