I bought 200 shares of SKF at $114.26 earlier this morning. Watched it go up above $120 (and thought about exiting) only to drop back down to $116.
I had no expectation of buying SKF today, and as Trade Report subscribers know, it is not on my weekly watchlist. I just could not believe how oversold the ETF is (or how overbought finacials are) and had to enter. I expect a pullback in financials (which could setup a long entry), which obviously would cause SKF to rise, since it is short financials.
Ooohhhh I like this trade. I’ve been looking at SKF as well. What a perfect kiss and bounce off of the 200 day moving average this morning.>>I got to get long this too sometime soon.