Here is what I wrote about these sectors in the Trade Report to start the week:
I have narrowed my list of stocks this week, focusing more on sectors. I also am not labelling sectors as bullish or bearish, since I've been reversing biases as extremes in buying and selling dictate. Here is how I am grouping them:
The beaten down sectors that were oversold but quickly became short term overbought. Well, they still look like bottoming patterns since the recent pullbacks have been on low volume. If one buys the bottoming thesis, it could be time to reverse again and go long.
Financials: SKF to short and UYG long.
Real Estate: SRS, TOL, DHI, HOV
Ailines: CAL, UAUA
Casinos: LVS, MGM, WYNN
These sectors have made strong moves this week, and the bottom formation thesis is still in tact.
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