In mid june I suggested to consider some SDP(Double short XLU) while XLU was starting to test it's resistance line (Click Here). . I then advised to take some profits while SDP was climbing (Click Here). Now I'm saying that it's time to start considering some SDP while XLU will start to face the resistance line once again.
I suggested to buy some SDP (Double Short XLU) when XLU was approaching its resistance (Click Here) ... Hope some of you did ! Take some profits here also... it's too late to buy SDP here for the very short term.
Look at how much profits you could have made when XLU was getting close to (R1) had you bought into SDP (Ultra Short XLU). As you can see on the chart below it's becoming interesting to consider getting into SDP in anticipation of a slump in XLU in the intermediate term.
This is a 30 minute chart of XLU (Utilities ETF). The $31 level will be a tough level to break on the upside ! I would short XLU at these levels !
