Retail ETF XRT got hammered today. Lots of people who owned shares asked for my opinion. I have a position with OTM June $50 call at $0.12 per contract. (a small bet, either big win or a negligible loss) . Let’s look at some technical characters:
The monthly chart is always used for my favorite long term bet because long term decision need long term trend follower
price hold up 50 months MA since Jan 2016 until now. This long term MA get very crucial now. If at the end of this Feb, price cannot hold up, it is indeed a big trouble for this popular ETF.
the monthly chart also forms a big triangle, break down or beak out
the monthly chart also forms a smaller bull flag (too small, I did not draw it)
So what is the take? My personal opinion is that since 2016 this important 50 months MA touched so many times and held up, this time it should hold up again. The reason is simple, the overall big market is still in a bull run market, this particular ETF should not be left out. Again, my personal opinion should not be an advice for any investment purpose.
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Unfortunately for sales reps working in Verzion's stores, wannabe customers don't read the fine print.
Several Verizon retail sources have told BGR that customers are coming in "every hour" asking for "that $45 Unlimited plan," just to be told that actually, it's $80 plus taxes for the plan if there's just one of you. I'm sure Verizon is happy that customers are excited by the pricing of its unlimited plan, but people wanting one line for $45 per month seems to be causing serious problems for the retail outlets. One employee said that "if I have to explain the bad math to one more customer, I'm going to go [around the city] and write '$80' on every Verizon ad I can find."
A poster on the Verizon subreddit echoed the comments:
"I swear man, if another customer comes in and asks for our new $45 UDP, I'm gonna rip the posters off the walls. I'm not even cushioning my response to customers anymore. I just tell them it's gimmicky marketing math meant to get them in store. Anyone else having a lot of push back from frustrated customers on this phrasing?"
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