Slowly scaling into financials. I admit I may be booking myself into the spa for a "face-lift" but the risk reward seems skewed in my favor to take a stab here.
I may regret this, but damn does this look pig look ugly. There's a lot of Trump brand lipstick on it don't get me wrong, but this rally is just too far for me not to take a stab.
Performance of the SPX, XLF & XLE - end of last month (November`16) closed by 2034.5 SPX (round about +8,08% this Year & -1,505% year to year Nov`15 until Nov`16) closed by 18.95 XLF (round about +18,79% this Year & 13,63% year to year Nov`15 until Nov`16) closed by 60.16 XLE (round about +23,72% this Year & -6,752% year to year Nov`15 until Nov`16) Both...
Seems like a pretty nice chance to enter until ~$23 level.
I'm going to start doing weekly price targets for a select few market sector ETFs each week. Here are this weeks targets: SPY: 220 ~ 225 XLF: 22.3 ~ 23.2 XLE: 72 ~ 75 XLV: 68.5 ~ 71.1 XLRE: 28 ~ 30.4 XLI: 60 ~ 63.7
Citigroup shares might be poised for a retracement here, we can expect a selloff to take place, if we don't move back above 56.78. I'd reccomend either shorting it, or buying puts. You can buy out of the money puts and sell bear put spreads to reduce costs (vs buying at the money puts). Good luck, Ivan Labrie.
ALL IN SHORTING KEYCORP Exhaustion Candle at the top Company is QUOTING 7 x Price To SALES¡ ABERRATION ENDS TODAY
Big divergence between US financials and US credit Long FAZ at eod.
New down trend with black line as resistance line. Still it's down slope. Solid green line is still acting as support line but once it breaks after 11/04 we can go short fully. Looks like start of a new bear market.
www.fool.com yelp is a short candidature despite today's bounce up. Yelp is playing a triangle on minor degree. Its called dead cat bounce.
FITBIT LONG TERM CHART GAP @ $16.60 GAP @ $15.70 Those gaps needs to fill. Plus green solid line is acting as support and also it broke the red bear line. So FIT is a buy. FIT will go down a bit more like $12.06 and then it will be a buy for till it reaches $16.00 ish to fill the gap.
SPY ELECTION UPDATE: SPY Still trading between red resistance line and the dotted black support line. Even though it tried to break several times the black line but slowly and surely its going down and will breach soon. SPY upper limit is $214.71 and lower limit is $185.20 (even though it may not reach on pre/post election but the hype will be there)
QQQ HOURLY CHART ELETION UPDATE: Upper limit is $119.72 and lower limit is 109.12. Unlike SPY QQQ is very strong and doesn't show weakness sign yet in the price chart but technical are weak though. Need good options strategy heavy on the short side and less on the bull side. But looks like it will move either way in pre/post election days.