'big white candle' is followed by 'itty bitty candle' with a higher low and a similar close. From Yahoo's historical data, I have determined that the low of 'itty bitty candle' is 1.3% lower than the closing high of 'big white candle'. Applying this to today's TZA closing price suggests that tomorrow's maximum TZA price is 10.77. If the fractal plays out, if this isn't P3, etc. etc. etc.
I bought calls in TZA today (Feb. 11 strike) for $0.27 per contract. I've programmed my sell order for $0.38 per contract.
Hi Red, thanks for the extensive analysis – aside from OBB, I always pop by here to read the detailed explanation of your view…. As said, I am with you on this, also badly under water, so treating water beside you! Keep up the good work n see u over at OBB
TZA looked really beaten down, and I was able to grab calls near the LOD. Annoyingly, it has gone down even more in AH. Still, I think I got a pretty good price.
Well, I'm glad you feel better about that 🙂 I think tomorrow's maximum TZA price is 10.77. See my other comment for chart and reasoning.
Chart posted!
OK – will check him out 🙂
Any other videos of people great at teaching ?
Yesterday, I posted a couple of charts about $VIX and $RUT. I predicted the $VIX would go down, which meant that $RUT would need to spike up.
(yesterday's $RUT) http://www.screencast.com/users/dreadwin/folder…
As you can see, I'm big on fractals playing out. This one looks like the Nov. fractal (until it doesn't). Tomorrow?
http://www.screencast.com/users/dreadwin/folder…
'big white candle' is followed by 'itty bitty candle' with a higher low and a similar close. From Yahoo's historical data, I have determined that the low of 'itty bitty candle' is 1.3% lower than the closing high of 'big white candle'. Applying this to today's TZA closing price suggests that tomorrow's maximum TZA price is 10.77. If the fractal plays out, if this isn't P3, etc. etc. etc.
I bought calls in TZA today (Feb. 11 strike) for $0.27 per contract. I've programmed my sell order for $0.38 per contract.
Updated post….there is an ugly swan in this weeks SPX
Thanks Dread
Hi Red, thanks for the extensive analysis – aside from OBB, I always pop by here to read the detailed explanation of your view…. As said, I am with you on this, also badly under water, so treating water beside you! Keep up the good work n see u over at OBB
TZA looked really beaten down, and I was able to grab calls near the LOD. Annoyingly, it has gone down even more in AH. Still, I think I got a pretty good price.
If I can find some time, I'll do a chart.
I agree, That gives me some comfort also. On my chart I did not see it dip to 10.22.
Gcocks,
Seems you have to be on top of your game (other than the earnings announcements) to use calls.
Calls on TZA has got to be exciting. I'm already fairly excited without them 🙂
I somehow feel better holding TZA knowing he has calls on them.