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What has taken place with the Dow 15 Utilities (and its trade-able counterpart, the fund XLU)over just the past twenty days has been nothing short of extraordinary. It would be worthwhile to examine what has taken place with this instrument and what appears to be forthcoming.
Just to jump to the end of this film, here is the present Dow Utilities. The red arrow marks the point where I established my bearish position, and the green arrow marks where I established my bullish position. As some folks know (since I never stop talking about it), the bearish position created a profit of over 300% in just two weeks, although I got out at the +140% mark, a decision for which I haven’t stopped kicking myself.
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Observe how the percentage of stocks above their 200-day moving average has continued to shrink. Unlike mid-March, when that wretch Janet Yellen aborted what should have been a severe market swoon by way of her criminal BTFP scheme, this time there’s no such interference.