XLE short idea Short

AMEX:XLE1D

SPDR Select Sector Fund - Energy Select SectorArca

Description

⋅ Jun 2, 2022 5:55 PM

Cracks are starting to show
Been overbought for a while
See the chart for stop and PT

Trade closed: stop reached

⋅ Jun 8, 2022 2:54 PM

Comments

ktaba

⋅ Jun 7, 2022 8:27 PM

I wouldn’t short. Buy on every dip. May be over bought, but it’s still under owned. The technicals don’t matter much, the fundamentals and macro environment is much stronger. There will be some tactical profit taking obviously, stay long though!