Retail Sector Follow Up
Hey Folks...just wanted to recap my bullish sentiment on the S&P 500 Retail ETF, the XRT. In the 04 June blog "Retail Sector is Going Up" I talked about the XRT going higher.
We bought one contract of the 22 Jun 46.5 call for a cost of $144. When the stock price reached $48.77 today we sold the contract for $250 with a pretax/precommission profit of $106 in six days. So that's a ROI of +73% in six trading days.
The XRT should go higher but as swing traders we don't like to give money back that the market has given us. When XRT pullback we're going right back to the name! As always thanks for following and we are emerald chasers...
