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Agree. I have never ever traded SKF, FAS or anything leveraged looking at actual charts of those. I'm looking as XLE, XLF and SPY

Easily... Just look at the chart of XLE:XLF As for your second question - sectors bottom out one by one. If 666 was an intermediate bottom then the next leg down should not be led by financials. In the other hand oil just reached it's intermediate top - so I think this leg down would be led by...

It WILL come back this week. But if I were you I would do the opposite - I would buy UYG and DUG - meaning being long financials and short energy. It works very well so far and I think that energy complex will lead this next led down. Just for those willing to shout "which leg down...

Dear Spanish, Oil is going down the tube this week. I have no doubts! Can reach 40 easily PS The more I read your posts the more respect I feel

I beg your pardon, Gentlemen, but at the moment I think exactly the opposite will happen. Financials will outperform energy and material stocks. To be more precise - this coming leg down in S&P will be led by commodity stocks while financials will only retreat a bit but not to the extend other...

I totally agree with this thread's headline in a sense that if you wanna short something - for God's sake don't short financials. 1 week ago I've posted my VH opinion that next leg down would be led by energy sector. So the best play in town (I do it) is being long financials (FAS) and short...

I bought some FAZ at 28... Might very well go to 60

Well, what happened to market is exactly the opposite of what we thought. Number was slightly better, BUT I do not see any sign of rally in the futures.

That's true. The only thing that really encourages me is rapidly rising YEN! Forex market is no joke in terms of size

I'm here! Looking forward for the Job Report. If it's ugly - it will make my day. Otherwise - more work on charts etc... Anyhow - less that 1 hour left. Call me crazy - I don't care

Sorry, for some reason I thought you are planning to buy. I sincerely apologize!!!

Hi I'm not sleeping as well... Reason? I went short on the close yesterday Gonna be INTERESTING day!!! I wish you luck, Sir PS Just my 5 cents. Oil seems weak here. Be careful on the long side

Just to make sure this thread is not moved I'll add some thoughts on why do I think this rally is over. 1)Yen does not support it 2)Volume today was small especially in XLF Dear moderators!!! Don't follow StockTrader's hidden advice to move this thread. Please!

Me too!!! Me too!!! Already bought FAZ and ERY!!! Joking aside - just take a look at $CPCI This ratio has been that "bullish" last time in december 2007... This is gonna be huge!!!

And again there is ONE thing I'm missing with last week's "bottom" and that is bearish sentiment (PIT/CALL ratio) Next week or two will be the moment of truth.

The funny thing is that you are right also in the assumption of tomorrow 200 plus down move!!! Seriously!!! But we will see

Serious question though: do you consider november lows to be resistance?

I went short at the end of the day and I plan to hold until PUT/CALL ratio moves to bearish territory (more bears we need). At the present moment people are as bullish as they were on the 9th of february (almost) this tells me we are nearing the end of this rally. Also we just bumped into...

There are few reasons why I am short energy and LONG financials. (works very well for last two days BTW) Sectors tend to bottom out one by one and financials are just the most hated so I assume they are not far from the bottom (if we haven't seen one already) On the other hand energy (not...

Exactly! Not to mention PUT/CALL ratio which is at levels more suitable for tops - meaning people are sooooooo bullish. I expect this to change rapidly with new (final?) leg down coming to theaters near you this month