We have two positions in the energy sector, USO which is up over 300% and XLE, bought way back in early June, which is still negative. While USO has more than compensated for the XLE loss, the trade still has a couple of months to work itself out. Let's zero in on the chart and look for a reason to either exit, or add more. XLE 2-Day XLE - Daily Breakout Bar If this price pattern looks familiar it is because it is virtually identical to the set-ups now in Gold and Silver. Except in the case of XLE, we have both a Daily breakout price bar as well as a 2-Day breakout bar, a powerful combination, as of late-Monday. A close today above $58 confirms them both, a close above $60 as frosting on the cake. XLE was into the $70's as recently as mid-May. Gold Silver Gold and/or Silver are deserving of their own update, look for it as early as Wednesday, but more likely when and if they sport breakout bars of their own. Today is all about energy calls, speaking of which: XLE Sep $60C Assuming an XLE close above $58, the Sep $60C is well positioned to move higher.
