Getting Ready to Short XLF with SKF
Posted on June 16th, 2008 in Stock Market |
The markets are still controlled by the weakness in the financial markets. I was short the XLF (financials ETF) by buying the SKF (2x Short the XLF) riding it from $105 to $119. I’m now waiting for the XLF to climb up this weak to around $23.87 from June 8 last swing on good volume. If it climbs up on lighter volume then I will short the XLF using the SKF and buy around $115 to $118.
One Response
[...] SKF trade was on the mark!!!. Got in at $118 the next day as I said in my SKF trading plan. It’s now up to $140…up over $22 or +18% in a week. We are getting to highs very soon [...]