Energy Breaking Out…

Lots of interest in the energy sector.

The Energy ETF, XLE,  cleared a 4-month high today, closing at its highest price since the 6.4 percent gap down on November 28th.  It now looks headed to fill that gap at 85.15.

It may consolidate for a few days and form a nice handle, but feels squeezy and everyone seems to be tripping over themselves to get in.   Or it could go down.

Took some today.  Always with a stop.

Apr15_XLE(click here if chart is not observable)

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This entry was posted in Crude Oil, Equity and tagged , , , . Bookmark the permalink.

One Response to Energy Breaking Out…

  1. Anonymous says:

    Good call. I am a big fan of “bottom-fishing” in more ways than one!

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