I've been stopped out of my -2.0 trailing stop placed just minutes ago this morning. \$135 seems like a strong resistance for SKF. We barely broke it this morning on decent volume. Furthermore, \$138 is a 50 day MA and \$140 is a good round number resistance. In other words, there are a few resistances to be broken going up from here.
Having entered SKF at \$104 in the new year, I am content with the gain for this trade. It has exceeded my original short term target of 120.
However, I would watch SKF and see if it breaks below 130. If it can stay above 130 today, then that's a very good sign.
[caption id="attachment_1018" align="aligncenter" width="500" caption="UltraShort Financials"][/caption]