(earlier I posted this as the XLF, it is actually the XLE
So.... I'm trying to come up with a narative for energy. That red line is the Secular trend... Using my stupid patterns.... and my 120 oil thesis. the xlf will come down to that trend line Oil will catch a bid at 120 for a week or so. and people will start moving into the XLF... then oil will break, and again we will have a nice fear trade......
maybe around the 60 level it will find some support. I will be looking to get out of my DUG soon.
That is just my mojo talking
Thursday, July 24, 2008
some XLE thoughts
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3 comments:
Headline says XLF, but you meant XLE
you are correct, sir
Did I say, Thank you.
thank you.
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