I'm not sure, on one hand I really like the base on XLF, but yes
market has been up for so long, who knows. react to what the
market does.
however the best thing would be for the XLF not to breakout now
and for the market to work off some of the overbought, then if XLF
held up and consolidated below resistance, it would probably have
the energy for a sustained breakout. I'd start looking at the
banks and look at individual stocks that look good as well. I
will do so as well
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I'm not sure, on one
Matt ? on XLF
Posted by matt on 4th of Nov 2010 at 12:33 pm
I'm not sure, on one hand I really like the base on XLF, but yes market has been up for so long, who knows. react to what the market does.
however the best thing would be for the XLF not to breakout now and for the market to work off some of the overbought, then if XLF held up and consolidated below resistance, it would probably have the energy for a sustained breakout. I'd start looking at the banks and look at individual stocks that look good as well. I will do so as well