Our last commentary on the XLY was on October 23, 2012 - XLY signaling risk to 70% of U.S. GDP
We saw this space as fertile ground for short candidates and it produced big winners for us including MHP and TWC. We are still short VFC, and we posted a negative outlook on Macy’s earlier today, but we are re-assessing our short-term outlook for the XLY.
The XLY, the market’s last line of leadership; should hold important upcoming support, but temporarily only.
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)