XLU Trade on Feb 3, 2016 09:31 from tsun: Tradervue User Stock Trades.

"purely technical set up. Overextended daily with
overbought stochastics on daily and weekly
SPY sectors have mostly been trending with SPY
except XLU"

"46 o/u for g/r move.. or some type of
late day fade
purely technical play.. If it grinds im out
a test of 46.6 and fade ideal"

All time high was around 46.6 so I scaled in short with risk to 46.6. I covered the position as it looked like it was going to break over and run. At this time, I was also trying to manage my FB trade which let me emotionally cover at the top at 46.6.

I reshorted as 46.6 was rejected strong and covered some once broke 46.45, the lower range of the channel which was beginning to develop. I then tried to short it again below 46.5 watching for a break of 46.45 area since the SPY was tanking, however I covered once it broke a new high over 46.6 at 46.65.

I sensed that a channel was fully developed at this point since it cannot break out or down. I played the range a few times for quick profits.