The View; XLE Up 7 Days In A Row
- Posted by ZorTrades
- on January 22nd, 2013
For the week SLV, XES, and XLE were the best performing ETF’S, the bottom 3 were XLK, GDX, and the QQQ (as per the ones that I track). Going through the View a couple of things stand out; the XLE is up 7 days in a row and it’s set up for a possible mean reversion play (ERY-INVERSE). The SLV is now trading above its upper bollinger band making it a possible mean reversion play as well (DSLV-INVERSE). Quite frankly, money is just coming into the market, as of right now it’s been spread out in the offensive sectors and defensive sectors, the TLT and the GDX are the only 2 etf’s down for the year.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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