Nice correction across all sectors, however I am fairly bullish off of strong economic data, and especially considering rising interest rates (great for the financial sector). Personally (not well justified) I believe the current unrest in the market is overblown especially for US equities. With BAC and GS also beating estimates and a large portion of the S&P500 reporting within the next few weeks (AMTD, COF soon) I believe underlying sentiment will be reset and the current worries will be swept under the rug. Not necessarily new all time highs but I see a fair margin of upside. Holding Jan/19 XLFc55, looking to close early-mid November.
Comment:
Averaged down on Tuesday morning
Comment:
Hurting after yesterday, holding, may cost average if we see positive earnings and more confidence in the market