Closing XLU vs. XLF pair trade pre-market
Sell XLU @ $69.72 - Realized gain of $0.54 (0.78%)
Cover XLF @ $40.66 - Realized gain of $0.44 (1.07%)
Total Realized Gain of 1.86%
JPMorgan reported pretty good results today and shares are down pre-market. That's obviously pushing down XLF, the financials sector ETF. XLU has held up remarkably in this sell-off.
As much as I've been pushing the idea of a major sell-off coming, I don't think this is THE BIG ONE. It very well could be...but my signals aren't showing it just yet. We'll get a relief rally soon - perhaps even today at the open - and then see where the dust settles.
I might YOLO some calls at the open outside of this blog's reach. To each their own. Tread lightly, but I'm not ready to short in big size yet.
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