Time To Short Energy And Finance

Published 05/31/2018, 02:20 PM
Updated 07/09/2023, 06:31 AM

I wanted to share a couple of short ideas. The first is the financial sector, (NYSE:XLF), which gapped down nicely where that circle is shown. This sector peaked back on January 29 and its gap is at 27.72. I have so many bank stocks in my portfolio already, it would be redundant for me to short this one too, but it’s a cool chart.

Financial Select Sector SPDR ETF

The other ETF is XLE, which tracks the energy sector and has a failed bullish breakout (green tint). I have provided a highlighted view covering the past couple of weeks' trading activity to provide clarity on that failure. I have shorted this one with a stop at 77.08

Energy Select Sector SPDR ETF

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