Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, September 2, 2008

dip Buy in the XLF?

We broke the uptrend in the xlf... and it should be moving into the "dip buy move"

It's incredable that the thing I thought wouldn't happen the qqqq go down, and the xlf go up... happened.

And this played out as I thought, we had some euphoria, this morning? I'm suspect if it was enough. I'd also suspect that the sell off in oil was actually a "Bear Trap"... I don't think oil is going anywhere, but..... I think some people were caught under water, and the oil bears ran out of bears.

Moreover.... I was looking at the fear in the oil stocks.... I bet most of them are a buy NOV RIG.... I think defensively are a buy.

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