Special Report: Long Story Short (PREMIUM-UNLOCKED)
**This post was originally sent out to Premium TLS Members midday on September 5, 2017.**
Just a quick update into today’s selloff. Fortunately, we did switch our Short-Term Outlook to “BEARISH” in Friday’s Strategy Session. I don’t think we have to go through our Intermediate-Term Bearish outlook as we cover that pretty much every day. However, another thing we have been mentioning of late is the potential for 1 last hurrah to new highs for this rally, especially in large-cap growth, technology & health care areas. Therefore, while we are very bearish in the intermediate-term, we are not averse to doing some buying in those select areas for a long trade.
As such, we have been saying that the aforementioned areas would be targets of potential buying (for a trade) into selloffs to support. We are getting that here already in a few select ETF’s. Here are a few ETF’s — and potential corresponding entry points — we are eyeing for swing trades (LONG):
- XLK: 57.90, 57.20
- IWF: 122.80, 121.80
- XLV: 80.15, 79.40
- SPY: 245.00 (not a long focus — but *should* be solid support — and could impact overall market)
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Disclaimer: JLFMI’s actual investment decisions are based on our proprietary models. The conclusions based on the study in this letter may or may not be consistent with JLFMI’s actual investment posture at any given time. Additionally, the commentary provided here is for informational purposes only and should not be taken as a recommendation to invest in any specific securities or according to any specific methodologies. Proper due diligence should be performed before investing in any investment vehicle. There is a risk of loss involved in all investments.
