XLF has heavy resistance ahead
Aggiornato
No thesis here beyond:
* I'm bearish on the overall stock market, and
*
XLF seems to be testing the top of a bearish trendline.
I am not taking a position on this, but I look forward to seeing if it's down by mid-February.
* I'm bearish on the overall stock market, and
*
XLF seems to be testing the top of a bearish trendline.I am not taking a position on this, but I look forward to seeing if it's down by mid-February.
Nota
So far it only rose 4.7% higher than it was when I posted this idea, and is nearly back where it started. So far it's a nothingburger. Will continue to monitor. It's retesting the breakout from the trendline over the next few weeks.Trade attivo
Monday, March 13, 937am:I just bought a Mar17'23 32p on this at 1.13
Breakeven price is 30.87
Might sell by EOD because I don't like holding through CPI (tomorrow)
Trade chiuso manualmente
I sold this Put 2 days later at 0.86 (down 24%)It never dropped as I had hoped it would
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