XLU Defensive in clear channel
The XLU (Utilities ETF) is a well-known defensive (succeeds in troubled economies, you have to buy their product) and has a very clear channel. My trade enters at the bottom of the channel and so allows for further market weakness. The price only matched the previous top last time, so I am playing safe with that top as a target, rather than going to the top of the channel.
David Atherton
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