12/09/2009

Financials are strong today. The $14.20 level on the XLF is holding nicely. I'm expecting an up move later in the day. I exited FAZ at the highs and will be back later tonight to update the blog. Good luck and check back often.

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Financials did exactly as i expected: Blast off in the afternoon, Hold the $14.20 on the XLF and pullback after touching the bottom of its triangle, and JPM going to touch it's 200-SMA (10 min)

Tomorrow...I'm expecting the same thing, XLF getting off to a slow start and touch the bottom of the triangle again, I would look to short there about $14.40-$14.45. It'd be better if we can get to the thicker blue line however.