The Worst Over?

What I meant to say in my last confusing post, is that it seems like yesterday that I posted the chart of the XLF(see June 1 post). The intra day low in XLF occurred on June 11 at around $22.33, the prior low was the March low of $22.29 which has not been broken yet. My bet is that this time it will get cracked and where she finds support I have no idea. Goldman Sachs was out with a report that they think the banks will need to raise an additional $65 billion. What’s 6.5% of a trillion between friends. I’m short UYG since the mid morning and WB. I am also short LEH for a retest of the lows. I think some investors were looking for GS to save the day but it didn’t, which goes to my practice and theory that owning a weak stock in a “strong” group is far superior to owning a strong stock in a weak group.

I traded some SOLF early on and made some loot with NIHD. Keep and eye on the latter as the chart looks good but it needs more volume.

We have triple witching on Friday and I don’t trust the eps from MS that will be coming out tomorrow before the open

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