XLE Trade on Jun 23, 2022 11:23 from spyrosz: Tradervue User Stock Trades.

-25% out of nowhere, in a blink of an eye for the strongest sector out there, and the only one still above

. Imagine all this havoc being due to impeding Russell rebalancing. That would be funny. Those selling now would be chasing returns towards end of year.

The velocity of the move and the over-extention from even from 9SMA@daily, justified the "long" attempt. I was looking to get involved in two main areas of interest:
a) $70-71=previous support pivot
b) $67-68=previous support pivot=confluence of major SMAs -> 200SMA@daily & 9SMA@monthly

We got to a), so:

-- Got long Tier 0, risking 50% tight stop below $69s, rest 50% below $66, which is lower than 2nd ara of interest
-- Want to take the quick 50% loss if it wants to go lower and be able to re-establish full size close to $67-68 which is a more significant support level.
-- Looking for buyers to come in, and $XLE start holding above $71
-- 1st target $76-77 area, main target $79

06-28-2022
This played out wayyy better than expected.
Already into 1st target $76-77 area. Sold small on the way there, missed the $77 sell.
Above $77, there is nothing until main target $79-80 zone.

07-01-2022
Back into $70-71s
-- Re-loaded small in-front of $71, bought what I have previously sold $73+ into $70 opening flush, stop for entire position below $69s
-- Buyer became evident in-front of $70s, defending the level. $XLE closed at HOD=$73s
-- Thru $73, next resistance is $77, then $79-80 area. $79-80 zone remains main target for this trade.

07-05-2022
Flat per plan...Extreme reversal pre-market + lost $70...It looks like it wants to tag 200SMA@daily=$67s. Will re-evaluate lower. Want exposure