XLF Financial Stocks Headed Lower

XLF looks to be headed to at least the 22.90 level in the coming days/weeks following this bearish rising wedge breakdown & subsequent thrust to put in a divergent high. Unofficial trade idea although I will say that my confidence is pretty high that at least T1 will be hit. Suggested stop over the recent highs (or lower, if only targeting T1). XLF daily June 3rd

XLF FAS Short Trade Stopped Out, Still Likely Headed Lower

The XLF/FAS short trade that was entered on Thursday was stopped out on Friday on a move above 27.63 on FAS for a modest 2.2% loss (or about 7/10ths of 1% on XLF). In hindsight, my stop for the previous XLF/FAS short trade was set too tight as I should have based my stops on a daily close above the bottom of the gap vs an intraday move above. After barely clipping the stop with a very slight intraday move into the bottom of the gap zone XLF/FAS reversed & still appears very likely to be headed lower in the coming [...]

Apr 25, 2016 11:26am|Categories: Completed Trades - Short|Tags: , |Comments Off on XLF FAS Short Trade Stopped Out, Still Likely Headed Lower

XLF FAS Trade Entry

FAS (3x Bullish Financial Sector ETF) will be added as an Active Short Trade here on the break below this 30-minute bearish rising wedge pattern. The basis for this trade has just as much to do with developments on the daily time frame for the sector (via XLF) although this 30-minute wedge breakdown helps to confirm the near-term bearish case for the financial sector as well as provide an objective entry. The two near-term price targets for a short trade on FAS are shown on the 30-minute chart below. The suggest stop for this trade is any move above 27.63. [...]

Apr 21, 2016 2:10pm|Categories: Completed Trades - Short|Tags: , |7 Comments

Short Trades Category Updated

The following Short Trade Ideas have either hit one or all of their price targets, exceeded their suggested stops and/or no longer look compelling from an R/R perspective. As such, these trades have been moved to the Completed Trades category, along with all associated posts for future reference: ACN - After hitting the first price target for a quick 10.4% gain, ACN reversed shy of T2 & went on to exceed the last downward revised suggested stop of any move above 100.50. AVGO- Hit T3 for a 20.5% gain, with that price target on the daily chart also coming in where [...]

Dec 15, 2015 3:42pm|Categories: Completed Trades - Short|Tags: , , , , , , , , , , , , |Comments Off on Short Trades Category Updated

XLF FAS Short Trade Price Target

Shortly after closing out the previous FAS short trade for a 29% gain in exactly one month, with a nearly perfectly timed exit on the morning the big August 24th meltdown, FAS (3x long financial ETF) was once again posted as a new short setup in this post last week & went on to trigger an entry later that day when XLF dropped below 22.95. At the time I had stated that price targets & suggested stops would follow. I've spent quite a bit of time studying the charts of the top components in the financial sector and it appears very [...]

Sep 10, 2015 12:19pm|Categories: Completed Trades - Short|Tags: , |Comments Off on XLF FAS Short Trade Price Target

XLF FAS Short Trade Setup

XLF (Financial Sector ETF) is likely to spark a new downtrend should prices break below both this extremely well-defined downtrend line (6 reactions) AND the bottom of this triangle pattern. As I still favor considerable downside in US equities in the coming months & the financials still one of my favorite swing short candidates, FAS will trigger short entry on any move below 22.95 in XLF. I chose that level as it lies just below yesterday's highs & the bottom of today's gap. Waiting for that level to be taken out vs. shorting a break of the triangle pattern helps reduce [...]

Sep 3, 2015 2:09pm|Categories: Completed Trades - Short|Tags: , |Comments Off on XLF FAS Short Trade Setup

Closing FAS Short Trade

XLF is indicated to gap below the previously stated first target of 23.15 & is currently trading just below the 23ish support level at 22.55 in pre-market right now. I am revising the final target to this level (covering in pre-market) & may re-short XLF following a bounce. Note: This chart DOES NOT reflect today's pre-market trades, it only shows Friday's close). FAS was the preferred shorting proxy for a short trade on XLF with the entry on July 21st. I use the chart of XLF (or any 1x tracking ETF for that matter) when timing entries & exits on the [...]

Aug 24, 2015 9:24am|Categories: Completed Trades - Short|Tags: , |Comments Off on Closing FAS Short Trade