Financials

I was putting together a post for financials, it started with every timeframe negative in FAS (3x bull financials), then I added 4 or 5 charts from XLF (Financials) and FAZ (3x short/bear Financials) as confirmation.

Since There's already a decent size FAZ long open, I was considering filling it out, but it's already a decent size so I'd really be interested only if I could get it at a discount and from an early gut feeling I've had and knowing the volatility in the market on F_O_M_C days, I figured, if XLF can break above this resistance area around $17.50 on an intraday volatility move, perhaps right off the announcement, I'd do one final check, wait for the reversal to look like it's in and add there.

Here's where it is and you'll see why I picked this area.

You know the concept and that's pretty definable and at a heavily trampled psychological level of $17.50 rather than $17.17 which no one would gravitate to.

If the trade comes to us, all things considered, then I think it's worth the shot as long as everything still looks good.

This is also the reason I'm leaving some of the short term longs like BIDU calls open for the moment, if there's a knee-jerk to the upside, then they are a hedge, they make money, and allow positioning of new shorts when the knee-jerk is nearly over. If there's just plain old downside, the skew toward the bearish side is going to be at a large profit and those can simply be closed.

If I do see something before hand that is very specific to the individual trade, then I'll show that and take appropriate action.

There, I just saved you about 15 chart.