XLF Short Position 13:21:06 (UTC) Thu May 28, 2020XLF Short Position 13:21:06 (UTC) Thu May 28, 2020
XLF trade ideas
Banks rally atlast $25 and to $26 coming from QQQ rotation$XLF After all these days $C $JPM $WFC will be got the message to participate in the rally with money rotation from covid plays like ZM, TDOC, LVGO, NFLX
XLF - bullish financialsIt might need a break above 23.67 to add a bit more weight to this count but as I look through the markets this morning there seems be some strength flowing into the financial stocks and away from the tech stocks.
still in daily downtrend for financialsMy short position is playing out the recent low was only 4 cents off but still counts looking for a lower low below 20.29. It would be a fairly good time to open a new short on financials after the recent rally. I’m doing it by faz 3x bear fund.
Look out below. Financial sector is sending huge warningThe financial sector is sending a huge warning to all skilled technical traders. You think this big rally in the NQ, ES, YM and other is really the bottom of the market?
The stock market is based on perceived forward earnings, guidance and performance of individual stocks/companies. The COVID-19 virus event has blown a huge hole in the bottom of our boat. 40+ million US working out of jobs. Income levels dropping. Stocks rallying? WTH?
The reality is that risks are quite high that a broader economic collapse will take place over the next 6+ months as the real collateral damage comes into view.
TRAN and XLF are showing that the markets are not stable. HUGE risks continue just below the surface.
You have been warned.
Weekly bear flag playing out on banksboth tech stocks and spx are going sideways but xlf is in a strong downtrend. I am personally long faz, the banks have the most downside fundamentally. They loaned money at cheap interest rates below inflation to a bunch of over leveraged broke Americans. We will have to wait to see just how bad default rates get with highest unemployment ever. I expect the default rates to break records. These guys are gonna need another bailout.
XLF Break out? Cup and handle and short term retracement. I'm looking at a simple move to the upside for XLF. Cup and handle looking clear on the hr. Will scale out 80% as it reaches the cloud. using 8ma for guidance.
XLF back to 21 againThis one tricked me several times... Will not play in the near term. Just an observation.
Update: Nice Bounce. GAP reached. Now adding set of shorts $$XLF GAP reached (Yellow Zone). Now adding sets of shorts (Red Boxes) and moving the targets (Green Zone)
Update: $XLF, $FAZ, $FAS, (taking first set of Profits) Taking first set of profitsand moving again Stop loss. Also expecting a bounce and perhaps fill the GAP (Yellow Zone). Then I consider add new positions keeping downtrend.
Holding Short positions. Weakness on XLF & Financial sector.Holding Short positions. Weakness on XLF & Financial sector.
Banks to bring the whole mkt downXLF barely holding up in bearish trend. This is a true Canary 🐤 in the coal mine and barely breathing to survive. All bets are off on indices if this breaks $21.20
New Relative Lows For Fins & Utes vs $SPY - What's Next?Hearing much buzz about the fresh relative lows for Utilities and Financials vs the S&P 500 $SPY this week... these relative trends typically don't move together so at some point one is likely to give...
Considering the underlying downtrend in Financials vs Utes, my bets on Fins underperforming and $XLF breaking to new lows vs $XLU... This is likely to happen in an environment where stocks in general are not doing too well.
Check out the chart of Broker-Dealers & Exchanges $IAI trapped beneath long-term resistance in the "related ideas" below - This also does not bode well for Financials as even their strongest subsector is currently trading below significant overhead supply.
Moving SL and adding new positions $FAZ. Short $XLF.Moving SL and adding new positions $FAZ. Short $ XLF. I expect a deep pullback on the S&P, DJI and Nasdaq index.
Short XLF not because it is hard, but because it is easyIts top two constituents by weight, JP Morgan and Berkshire Hathaway's (stinky) B shares, have been performing very poorly in comparison to most stocks:
This along with XLK (tech bubble) and XLE (oil) are, to me, overvalued and must be denied higher prices.
XLF thougtsBigger picture wise, I think XLF should dip below 2015 low but not penetrate 08/09 low. So $14.9 is the first area I would think long.
