A couple days back I suggested that $RUT/IWM would bounce 1% off the 50 day MA (62.19 for IWM), and that it would yield a 3% scalp with TNA. My numbers show that a TNA buy at 42.05 (10:02 am), sell at 43.31 (at the 2pm surge) would fulfill that condition. Sounds like you took the trade. Congrats.
The previous (TZA) BUY-IF signal is null and void. We allowed two days for the confirmation of the bullish pattern and market denied confirmation. None of the three bullish conditions were realized.
It is now time to wait for the next signal. Meanwhile, either stay at cash or check the other stocks. Do not bother with buying or short selling this stock as long as the WAIT tag stays.
(I really like this site. Look forward to a real buy signal.)
Yeah Earl!
I dipped in the waters here with a 109/105 put spread. Let's see what happens tomorrow?
There are times when it pays to trade with the robots rather than against them. This is one of those times.
Dreadwin,
Nice call 🙂
Never so sure about it, though, in the middle of it 🙂
A couple days back I suggested that $RUT/IWM would bounce 1% off the 50 day MA (62.19 for IWM), and that it would yield a 3% scalp with TNA. My numbers show that a TNA buy at 42.05 (10:02 am), sell at 43.31 (at the 2pm surge) would fulfill that condition. Sounds like you took the trade. Congrats.
Great, I get fantastic technical analysis and you get compliments. Good trade in my book!
Pardon the fundementals …..BUT
One analyst/trader on forex TV is looking for a negative revision for 4th quarter GDP comes out fri 8:30am, which he says will be neg for stocks.
Ramsey Bilbiesi tues 2/23 4:43PM
http://www.forextv.com/Forex/Video/Video.jsp?ch…
skip to about 5min 50sec on the
This is consistant with an early pop (Pre 8:30am est) than a sell off in stocks.
I really enjoy the feedback 🙂
Official word from http://www.americanbulls.com on the TZA buy signal from 2 days ago:
The previous (TZA) BUY-IF signal is null and void. We allowed two days for the confirmation of the bullish pattern and market denied confirmation. None of the three bullish conditions were realized.
It is now time to wait for the next signal. Meanwhile, either stay at cash or check the other stocks. Do not bother with buying or short selling this stock as long as the WAIT tag stays.
(I really like this site. Look forward to a real buy signal.)
Thank you Earl! Love your recaps.