Just noticed that Monday's high came in at $12.53, which happens
to be it's 200 day simple moving average. This marked the
third time since October, 2007 that XLF touched the 200-day
SMA...the previous two times resulted in significant pullbacks.
I see no reason to think that this time will be different or
that XLF will burst higher. I'll believe it when/if I see
it. XLF is in a wedge formation and will breakout one way or
the other...my money (for now) is on FAZ.
XLF
Posted by jtverr on 9th of Jun 2009 at 01:04 am
Just noticed that Monday's high came in at $12.53, which happens to be it's 200 day simple moving average. This marked the third time since October, 2007 that XLF touched the 200-day SMA...the previous two times resulted in significant pullbacks.
I see no reason to think that this time will be different or that XLF will burst higher. I'll believe it when/if I see it. XLF is in a wedge formation and will breakout one way or the other...my money (for now) is on FAZ.
Good night.
would an event like the
Posted by paige386 on 9th of Jun 2009 at 08:22 am
would an event like the banks paying back the tarp money spring the XLF higher?
XLF
Posted by jtverr on 9th of Jun 2009 at 09:19 am
It could, but I think it'd be more like a sell the news...only mho.
It is something to have
Posted by hornsant on 9th of Jun 2009 at 08:45 am
It is something to have in mind, but do not get biased about it because it could turn to be a sell the newsevent, it will surely move the mkt though.
That's true...Tops come on positive
Posted by chlo888 on 9th of Jun 2009 at 08:51 am
That's true...Tops come on positive news events...