01Oct1:12 pmEST
Always Drink Upstream from the Herd
In today's Midday Video for Members, we will flesh out specific ideas regarding the XOP ETF, second below on its daily timeframe, as the exploration/natural gas plays in energy continue to thrive.
That XOP strength is juxtaposed with the IWM small cap weakness, seen below on the first daily chart. Note the touch and reverse down off the 50-day moving average this morning (dark blue line). While the small caps are not the entire market or anything close to it, we can see a number of names red even with the Dow up 200 points as I write this.
Simply put, the rotations continue to compel traders to adjust their positioning on a constant basis, as we must be sure to drink upstream from the herd in lieu of the alternative...
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