SKF - Support - Go Long
Symbol: SKF
[X] Entry
Duration: Intermediate Term
Direction: Go Long
The SKF is the Ultra Short Financials ETF. With the earnings season approaching the desire is to steer clear of new positions in individual stocks until they have reported and settled down in their trading. ETF trading provides the ability to participate but to remain aloof to a certain extent.
. On the chart you can see that there are basically three levels that this ETF has traded in over the past couple months. We are in the middle of that range but at the lower end of the higher of the two ranges. Given my general negativity about the market, going long this ultra short ETF of the financials seems fitting at this particular point. I would like to catch an entry around the $74 area if at all possible and use that area as the quick stop out if the financials catch more than just a passing bid.
[X] Entry
Duration: Intermediate Term
Direction: Go Long
The SKF is the Ultra Short Financials ETF. With the earnings season approaching the desire is to steer clear of new positions in individual stocks until they have reported and settled down in their trading. ETF trading provides the ability to participate but to remain aloof to a certain extent.
. On the chart you can see that there are basically three levels that this ETF has traded in over the past couple months. We are in the middle of that range but at the lower end of the higher of the two ranges. Given my general negativity about the market, going long this ultra short ETF of the financials seems fitting at this particular point. I would like to catch an entry around the $74 area if at all possible and use that area as the quick stop out if the financials catch more than just a passing bid.
posted by Tat | 8:27:00 PM
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