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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 681.44+1.6%Nov 10 4:00 PM EST
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To: Fintas who wrote (50040)5/11/2013 9:13:20 AM
From: Machaon  Read Replies (1) of 218664
 
After taking a look at the XLU I wasn't surprised to see it drop. IT's high pole on a PNF and was begging for relief. I don't think it's done going down..
I hope that you are right about XLU continuing to go down. I would like to add to my position at a much lower price. However, if it chugs up a little more, I'll cash in and hope to play a round trip.

Pull up a pnf chart and look at it using a 1.62 value box going out 3 years and you will see what it's done over that time line. Then you can view it with normal default.
I need to try what you are suggesting. I've never done pnf before. I'll look and see if my brokerage offers that type of charting. Perhaps I can extrapolate some good trading decisions based on the charts. Thanks!

What is interesting for all the rally up it's RSI barely budged which shows the strength of the SPXEW. I've seen a few patterns showing this.
I'm not familiar with the SPXEW. Never heard of it. I will look into it.

Like I said the other night I won't be surprised to see if have legs on the pullback as money chases divi's etc.
Holding XLU was a win-win proposition for me for several years. If it goes down, I get in at a lower average price, while still collecting the dividend. If it goes up, I also gain appreciation. Unfortunately, I sold too early to lock in my profits and then had to sit back and watch the rally with my hands in my pockets.

Thanks for your analysis and your suggestions.




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