I am having, as you might guess, a good morning thus far. I wanted to note that, regarding financials:
- I sold half my XLF puts this morning for a 70% profit. I absolutely intend to double this position later when I think it is appropriate;
- I covered my XLF short and a smattering of financial stocks.
- I am selectively covering issues here and there, but intend to remain well over 100% committed. Just not as much as before.
The financials have made an important price gap down. The next task is to break October support. Good luck, Slopers.