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 (GSJPM) 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
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Took 25% off here
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Going to take 50% off around $25 then let the rest run
"Cut your losses early and let your profits run" - J. Livermore
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XLF holding the blue uptrend line - sooner or later this name will have multiple +5% days
Trade closed: target reached
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Closed out this trade as my target was essential hit. Congrats to anyone who took this!