Tuesday, July 28, 2009

XLF

The financials haven't really participated in this baby step rally. Saw this setup with the SPDR inching up as well closer to the 200 SMA. This stock lbroke up after a volatility squeeze and could pop toward and through the 200 SMA. Because the market is still choppy and indecisive I choose to take a small position (8 $13 Sep calls) at .48¢ each.

1 comment:

  1. I'm out my XLF calls at .63¢ for a 30% gain. I was playing the $13 level and did not want to play the break out above the 200 SMA/resistance. If it can break and hold above $13 could rocket to $13.75 or higher.

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