Friday, June 17, 2011

Going in to Monday

Today's trade is about what I expected yesterday, it looks like a lot of options will be pinned as is usually the case.

I see some strength in various stocks and averages and am looking at cautiously going long today in the following ETFs until we see if the bounce takes hold and where it appears the drive will come from, I suspect financials will be important.

 FAS-3X Bull Financials  NOT FAZ!

 TQQQ Ultrapro NASDAQ 100

 UDOW UltraPro Dow-30

UPRO UltraPro S&P-500

I like these for broad coverage and they are meant to be shorter term trades so if the bounce materializes, I have a day to figure out what sectors look like they'll lead.

As I said, I urge caution -this is no time to swing for the fences with the Greek/Sunday event which is a coin toss, but these ETFs have been looking good and any bounce that takes place, should be pretty decent in size and time so I don't think I'll be left behind by being a bit cautious.

No comments: