Watch: Financials on the Edge of a Cliff?

Quint Tatro  May 29, 2009 2:25 pm

Watch: Financials on the Edge of a Cliff?
 
Precarious position borne out by XLF, AXP.
 

Good afternoon Traders,

I'd like to begin adding some audio/visual analysis to my posts, as I think it can be very beneficial.  If you agree and would like to see something similar to this more often, please let us know.

We find ourselves at a precarious position with the financials, as noted in the video below, by XLF wedging above and below 2 critical technical levels. I believe this can best be seen through American Express (AXP), which just may decide the fate of today’s move.

Drilling down we see that Gold (GLD) continues to break out however I would not be chasing the move here and remain patient waiting for a more prudent entry.

While I remain long a touch of Real Estate Short (SRS) the commercial real estate names are making their way onto my radar with Equity Residential (EQR), Kimco Realty (KIM) and Avalonbay (AVB) consolidating above critical break points. I have not taken any of these names just yet, but am watching for a break.

So, here is our first video installment.  You'll have to click on the image to open in a different window while we work out the kinks with the embedding process.




25 of 25 (100%) found this helpful
Rate this article:  (25 Votes)
Comments (9) See All Comments »
05-29-2009, 6:41 pm
Excellent presentation, as always, thanks Quint!

But no time during market to sit and watch it. How about a few graphs and sentences posted in the article, with an attached video for fuller explication at the convenience of the busy?
Read More
05-29-2009, 7:22 pm
i agree, really liked seeing the charts being pointed out w/explanatory audio - very very nice...

what i'd add comment wise:

agree w/thomas above, "a few graphs and sentences...for...convenience of the busy....&
Read More
05-29-2009, 11:05 pm
We've seen a lot of that over the last few months, haven't we? Got to be almost a regular occurrence last fall, and it's been popping up several times these last three weeks. Why and how does it happen? No one who really knows se
Read More
05-30-2009, 3:05 am
Thanks for a nice technical education.
Read More
05-30-2009, 5:43 am
for me, it smacks too much of an in-your-face kind of stuff the money-trusts in the 1929 worked so desparately to get away with...

it hurts, rather than helps me, trust the basis or sustainability of the rally

but then, mayb
Read More
discuss this article and more on the mv exchange
Position in XLF, QID, SRS

Get real-time options trading ideas from Steve Smith, veteran options trader and newsletter author, plus let him show you the way to cut risk and boost your returns through the strategic use of options.  Click here for a free 14 day trial to OptionSmith by Steve Smith.



The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2009 Minyanville Media, Inc. All Rights Reserved.

 

Ticker Talk
Popular Tickers:
F »AMZN »HIG »
Select
  •  
Talk Now
Share this Talk on your site:
Send us your feedback

Our Professors

rss article alert