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10-30-2005, 06:48 PM
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Financial Sector XLF
Ticker: XLF
Check out the Financial Sector XLF. Looking rather bullish today.
With the price close to past highs, I'd wait for a breakout above $30.40 before taking a position. It did break above resistance on Friday which leads me to believe it can take out the next one later this week. We could see a brief pullback to Fridays resistance near $30. One way to play it would be to set a buy limit around $30.05 and hope for the short term pullback. A close stop just below $30 would get you out without much downside loss. You could always get back in if the price were to break back above $30. eigh8or |
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LinkBack to this Thread: http://forum.mrswing.com/etf-sector-funds/5964-financial-sector-xlf.html
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