X Marks the Spot

By Tim Knight of Slope of Hope

Managing Partner at Tim Knight Organization • Jul 20, 2021 at 12:39 PM EDT

Powell is going to be sure to buy any weakness, and as the chart of the Dow Industrials shows, today is pretty much an upside-down version of yesterday.

My paranoia yesterday was appropriate! Powell is going to be sure to buy any weakness, and as the chart of the Dow Industrials shows below, today is pretty much an upside-down version of yesterday. No problem, Jay. I took good profits yesterday and am reloading for a headshot today.

Below are three ETFs against which I just bought fresh options (long-dated, as always, and in the money). I’ve moused over short-term resistance levels. Here are the financials: XLF

Consumer Discretionary: XLY

And the Metals & Mining sector: XME

I’m probably jumping the gun (I mean, it was only 24 hours ago the world was falling apart), but patience isn’t a virtue I possess.

Disclaimer:

This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

STOCKS IN THIS ARTICLE

Also Mentions:

XLF XLY XME DJI

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