I don't see a whole lot of opportunities right now , with exception of energy , primarily oil , which is significantly net short per IG data and outpreforming pretty much everything .
I am going to focus on XLE probably for rest of the year and I moved out of my TBIl position to buy this now ....
Above GLB ,
Crude Oil shorted per IG traders data at 71% net short ,
XLE significant RS strength vs spy,
oil could be on multiyear uptrend here ...
Last time market went du doo , XLE outperformed , I think we might have put our highs in on QQQ/SPY and I am hoping that I might just be right that oil will give me a way to keep account growing .
I am going to focus on XLE probably for rest of the year and I moved out of my TBIl position to buy this now ....
Above GLB ,
Crude Oil shorted per IG traders data at 71% net short ,
XLE significant RS strength vs spy,
oil could be on multiyear uptrend here ...
Last time market went du doo , XLE outperformed , I think we might have put our highs in on QQQ/SPY and I am hoping that I might just be right that oil will give me a way to keep account growing .
Comment:
Oh yea XLE top 10 holdings , 6/10 are in stage two , some very early S2 though so could argue its only 5/10 , my minimum to trade is 5/10 of top 10 holding in S2 uptrend but 6 or more much better ....
Trade closed: stop reached
艾力克~