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XLE Stop at $72

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Maintain a Put on the XLE

The stop on our XLE put is $72. At the open today there was a bad tick that shows the intraday high to be $72.25 but in reality the high was only $71.98, at least according to my charts.

We want to maintain our put in the XLE especially today. If you exited on that bad tick I recommend getting back into the position before today's close.

The intraday high on crude today at $77.43 was right at resistance and with no hurricanes on the map and the weekend just ahead we could see some profit taking to start the next decline.

Good luck!


Leaps Trader Intra-Week Blog Archives