PennyBagsCapital
Long

Financials Looking Good $XLF

AMEX:XLF   SELECT SECTOR SPDR TRUST
AMEX:XLF

Financials are looking good mostly thanks to Uncle Jerome's aggressive stimulus plan and banks of course "being too big to fail". With that said, there are several key players ($GS $JPM) in this space that are also at the forefront of financial services innovation and strong cash flows/liquidity. All of this paints a pretty bullish fundamental for the short/immediate term and with the additional announcement of a potential round 2 of stimulus checks... Money Printer go Brrrrrrrr?

From a technical standpoint, we are are about to breakout from a symmetrical triangle to the upside. My target is $25 with movement happening by 8/6. Hopefully the mods leave this up for you guys.

- PennyBag
Trade active: Took 25% off here
Trade active: Going to take 50% off around $25 then let the rest run

"Cut your losses early and let your profits run" - J. Livermore
Trade active: $XLF holding the blue uptrend line - sooner or later this name will have multiple +5% days
Trade closed: target reached: Closed out this trade as my target was essential hit. Congrats to anyone who took this!

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