var bfcParams = 'Symbol=XLF,TimeFrame=0-Minute,NumberOfBars=112,WebChartID=1b0f2eb4-750b-4017-930f-e3b200a6986d';var bfcWidth = '300';var bfcHeight = '250'; Discard Last edited: 20-Apr-09 11:15 PM Last edited: 20-Apr-09 11:17 PM

fortunefaded · Apr 20, 2009 11:11 PM

inpeace, In my opinion XLF is going down. BAC's profit meant nothing to investors and now the pull back is starting. And like you said XLF tested the 10.10 resistance and went below it. I see another big opportunity tomorrow for FAZ, the 3x leveraged EFT for shorts on financials. xlf ended with 9.87 today and went down to 9.80 in after hours. I easily see it going below 9.75 and because of the gap, even 9.25 in the near future. Lets just hope I am right. Note the 10 and 20 day MA are pointing towards a downtrend. Last edited: 20-Apr-09 11:19 PM

fortunefaded · Apr 20, 2009 11:17 PM

Fortunefaded your right....I think for now 9.00 will be a strong support. I saw huge buying on XLF yesterday and the volume is so low and those remember those guys are always  right even for a day it might go on the wrong way. On March 5th they bought 30mil stocks of XLF@6.21 and then on 6th it went down to 5.94 but they were right at the end.... I was in FAZ last week but I end up being on the wrong side. I still think FAZ will go much higher....But I still think atleast once the bulls will run.....Long term 5500..... Becareful with FAZ might go to 5-7 range once....... Last edited: 21-Apr-09 07:26 AM

inpeace · Apr 21, 2009 6:57 AM

Looks like XLF will test 8.67........

inpeace · Apr 21, 2009 7:51 AM