No thesis here beyond:
* I'm bearish on the overall stock market, and
* AMEX:XLF seems to be testing the top of a bearish trendline.
I am not taking a position on this, but I look forward to seeing if it's down by mid-February.
SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS...
Looking for short entries. Above 46 would be stop loss. Citigroup is a very weak stock compared to the market so it is a good short hedge against other long positions. Expecting it to re test recent lows.
The foundational problem here is that globally there is no growth story that does not involve assistance from central banks, which has been clear for a few years now. Regardless it has been great to be in stocks but, at the end of last year signs of the US consumer slacking off started to crop up. The first signs were in durable goods after that, transports fell...
What a rollercoaster the financilas got - no doubt :)
How ever, based on some strategic facts (point of views) i realized that the financial sector still got time and room to prices above 25 at least. Why ??? The Sentiment changed !!! And not only this - of course politics in the US too. And this is probably the most inflous - the most bullish factor !? CNBC Joe...
