8.02.2006

TECHNICALS- XLE


XLE moving up and nearing the $60 level; also nearing a 100 reading on the 2 day RSI so my plan is set and I will be selling some calls on any move higher.

The markets act fairly well but there are some flys hanging around keeping a lid on my bullishness. The problems, GS (down 3 bucks), the banks and the brokers and the NAZ internals all lagging; KLAC also a non participant so just a heads up.

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