XLE started to see a positive MF. I regret that I did not revert the trade and did not turn long ERX. I believe that I should be more reactive to what the market is signaling.
I covered the first half when I saw accumulation early in the day.
I then covered the second half when I saw more accumulation.
The 20DMF was showing a slight positive MF. This does not imply that IWM will also attract money, but the TNA trade started to fail, so I decided to exit close to the entry price.
As can be seen below, the trades in July have all been tiny and have not brought much profit. The market has been choppy, which means that there is no strong wave to ride.
The trade ideas for the day are below.
As a side story, BLUE failed through its "line in the sand" of $32. It is now close to $30. This is too far from the secondary pricing of $34, which means that the deal could fall apart. I luckily exited the trade in the morning spike, as the EV pattern did not show any support.
I always prefer to act fast when EV tells me to that the story has changed.