Tactical musings, technical timing indicators and risk management strategies
Tuesday, July 03, 2007
XLE and NEM updates
XLE is into a topping pattern...again and I am looking to exit this cycle at the next run to R1 (70.58). NEM looks like it may have some room to breathe and the near 40s will generate over 2% for 18 days, which I consider attractive. I prefer to be a net seller of premium and with the accelerated premium decay expected over the next few days, I am adding a few of these to the portfolio.