Lions! Eyes On The Financial Sector NOW. By Gregory Mannarino
Do you know what I like to see?
When any trade gets overly crowded to one side.
For just about a month now, the financial sector has ripped higher moreover, it seems like everyone is bullish on the financials.
Here’s the way I look at it.
If any trade gets overly crowded to one side, just like the financials are right now, it is often time to take the opposite side of the trade.
I believe it is highly probable that a turnaround in the financial sector, that is a move to the downside, is highly likely.
So how do we take advantage of this?
You could keep your eye on ticker XLF, the ETF which tracks financials.
You could also look at individual banks for example, Goldman Sachs, ticker GS, or Bank of America Corp. Ticker BAC.
Now, if you are thinking about betting against the financial sector in this environment be very cautious. But if I am right, there is going to be a lot of cash made when the Bears step in on the financials.
Happy trading!
Gregory Mannarino
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Thanks for the great content as always!
I see it too. Not sure if it will materialize as the technicals are being propped up by the Fed. But hey, I'm willing to take a small gamble. Greg, let me know how you want to play it. If you jump, I'll jump.
Great post bro
G'day Greg. Veeman from Straya.
10yr yield indicates strong sell at all intervals. Extreme greed on fear/greed index. Bounce in PM's after weeks of selling. US$ rallied ridiculously now 'selling off'. What does this all mean? Probably more manipulation, massaging, money printing (aka typing)?