It isn’t often that my ideas nail an exact top or bottom, but this is an exception: on December 14 of last year, I did a Premium post cleverly titled Utilities, Utilities, Utilities, and at the time I wrote quite plainly, “My view is that this sucker is about to roll over in a massive way.” Let’s see how that worked out:
I think “sensational” comes to mind. Here is an updated chart, in which XLU has happened out a beautiful diamond pattern.
This has been a jaw-droppingly great trade, and I think it’s got PLENTY to go.
