TZA gapped down at the open and improved some but closed down 0.6% today.
We are in a New Moon Trade (favors TZA). [ After five days, this trade is *cough* DOWN 10.4% ]
(In the recent past, moon trades has been in the area of 10% down, only to bounce back to near even by the end of the trade.)
Volume today for TZA was the lowest in 34 trading days.
$RVX (VIX for $RUT) closed 0.3% higher. This is the second day in a row that $RUT & $RVX both closed higher. (Normally, they go in opposite directions)
TZA has now been down nine days in a row.
Ultimate Oscillator was 20.81 last Friday & 21.86 today, increasing when TZA closed lower. A bit of a divergence.
Bollinger Bands for $RVX (VIX for $RUT): the lower BB was touched last Friday, but did not touch today, which might be indicating that $RVX will be rising (good for TZA).
Bollinger Bands for $RUT: the upper band rose, moving higher away from $RUT, which might be indicating that TNA will continue to rise (bad for TZA).
Overall, it looks like TZA might fall again tomorrow, but the divergences in place might be warning of a rise in TZA (finally).
SC, any thoughts on financial holding up so well in light of new banking regulations, under water mortgages, commercial loans. etc. Does not make sense to me.
When the market started to turn on Feb 11-12, I mentioned that technology and foreign stocks were leading the turn in momentum. Money is flowing out of those two sectors now. Odds are for the rally taking a breather in the coming days. Just bear in mind that it isnt the start of yet another P-3. No P-3 likely until summer.
TZA gapped down at the open and improved some but closed down 0.6% today.
We are in a New Moon Trade (favors TZA).
[ After five days, this trade is *cough* DOWN 10.4% ]
(In the recent past, moon trades has been in the area of 10% down, only to bounce back to near even by the end of the trade.)
Volume today for TZA was the lowest in 34 trading days.
$RVX (VIX for $RUT) closed 0.3% higher. This is the second day in a row that $RUT & $RVX both closed higher. (Normally, they go in opposite directions)
TZA has now been down nine days in a row.
Ultimate Oscillator was 20.81 last Friday & 21.86 today, increasing when TZA closed lower. A bit of a divergence.
Bollinger Bands for $RVX (VIX for $RUT): the lower BB was touched last Friday, but did not touch today, which might be indicating that $RVX will be rising (good for TZA).
Bollinger Bands for $RUT: the upper band rose, moving higher away from $RUT, which might be indicating that TNA will continue to rise (bad for TZA).
Overall, it looks like TZA might fall again tomorrow, but the divergences in place might be warning of a rise in TZA (finally).
I think I was mesmerized by seeing no sell points (those green lines on my charts) on TNA for the next $2 move up.
In the past, no sell points has meant a rapid upward move.
But, anything can happen.
Carl's projections on /ES
1100-1116 todays estimated range (16 point range)
1103.50-1112.75 todays actual range (9 point range)
/ES stayed in Carl's range today by 3-4 points.
Carl bought /ES at 1104.50 and sold at 1108.50 (+4)
Grade: B
That is just not like you. I am surprised. However, there is always tomorrow.
By my rules, I should have sold when it dipped below $44.52
Expected more upside. Expectations can kill.
SC, any thoughts on financial holding up so well in light of new banking regulations, under water mortgages, commercial loans. etc. Does not make sense to me.
When the market started to turn on Feb 11-12, I mentioned that technology and foreign stocks were leading the turn in momentum. Money is flowing out of those two sectors now. Odds are for the rally taking a breather in the coming days. Just bear in mind that it isnt the start of yet another P-3. No P-3 likely until summer.
I really thought you sold at the high. When it ran up to 44.55 I was sure you sold out. My Tza was up a whole $133.00 on the day.
Out of TNA Net gain on the day of exactly $0.00
For those who browse the blog world for guidance, this site may be of interest to you.
http://garyscommonsense.blogspot.com/
IF you are looking and waiting for P-3,
http://garyscommonsense.blogspot.com/2010/02/th…