POSITION: Long Consumer Discretionary (XLY)
So, I’m long now – waiting for Santa like a good boy – and what do I get? Another one of these 1-day rallies? C’mon Man!
Hearing from my contacts in Europe that Santa has been run over by a reindeer…
Across all 3 of my risk management durations, here are the lines that matter:
- TAIL resistance = 1269
- TRADE resistance = 1251
- TRADE support = 1227
In other words, 1 is now my range. It’s tighter, primarily because volatility and volume signals have retreated to the Northern Pole of risk management civilization.
Rather than whine about it, I’ll just deal with it – covering shorts down toward 1227, re-shorting rallies back up to 1251.
Dear Santa, will you get me paid if I rinse and repeat?
Keith R. McCullough
Chief Executive Officer