XLE is in a larger uptrend from last February
- it has pulled back to a consolidation range
- there is large volume on the recent down move, these are buyers to me
- this sector is lagging the over all market
- we are entering seasonally bullish period for oil
I'm a buyer here, now that can be buying the underline, leveraged buying the underline, or selling volatility in the underline. The way of getting long is up to the individual. This is not a short term position (multi year).
- it has pulled back to a consolidation range
- there is large volume on the recent down move, these are buyers to me
- this sector is lagging the over all market
- we are entering seasonally bullish period for oil
I'm a buyer here, now that can be buying the underline, leveraged buying the underline, or selling volatility in the underline. The way of getting long is up to the individual. This is not a short term position (multi year).