XLF and other HF's

Yesterday I was clearly waiting for XLF's move this morning, it was only a few cents away and if you read the two articles on "Understanding Head Fake Moves" which are always linked at the top right side of the member's site, you'll understand why there's really easy money to be made there, even on a move of 5 minutes as long as it hits orders that are almost always above easily recognizable resistance or below easily recognizable support, just like the head fake move down 2+% from a week long range on 1/24 in the market (SPX) which was easy to predict because of the support of the range.

So far in XLF, which I was looking for to enter a put position, but there's no rush, we have a lot of time left today...

 Being a few cents away yesterday and as a member pointed out, having noted bank analyst Dick Bove pumping Financials on CNBC yesterday, it seemed very likely that we's see this move, thus patience was worth it and by the way, I don't think Dick was honestly pumping Financials over the long run as he was making it appear, there are a lot of ulterior motives when anyone gets up and speaks on CNBC, how many times have you seen or heard about a CEO doing an interview on CNBC and then finding out they were selling their insider shares during the same period. Lets just say I think analysts make their money in more than one way.

As far as probabilities of a head fake move, the last move failed and 3C is in no better condition, so probabilities, which is all we will ever have unless you're willing to risk your freedom and rot in a jail cell,  look very good and a put position looks like one of the better entries although leveraged ETFs (or even short Financials with no leverage considering volatility) are all probably worthwhile considerations, I'll let you know BEFORE I do anything as always.

The SPY had a little move, I think we can call it a bit of a head fake with resistance so clear, but SPY has the heaviest exposure to financials, about 24% if my last count is correct so not surprising, what is a little surprising is the IWM...

I figured this one good for a run above obvious resistance, yesterday's was clean and clear so I suppose we can "X" that one off, but there's another just a bit above.

Like I said, it's early and there's no rush, it's far better to let the trade develop and make sure the timing is there, especially with options or any leverage.

Don't forget, NFP is tomorrow...