The XLE stats were showing that it could be interesting to buy at the time of the positive divergence... I really hesitated to buy there.
Since I was convinced that a short-covering rally was about to start, I decided to cover the ARMH short position.
I kept the EDU short because the LEV pattern is still negative. Today will prove me right or wrong...
The trade ideas for today are below. If I was reckless, I would be adding FCX to the list of long oversold ideas, as I believe that it has the potential to bounce back to $5. However, this is not the way I want to manage this portfolio. Buying distressed stocks cannot be a long-term investment strategy, except if you gain control over the board and the future of the company.