Red – can you elaborate on the MA coming together …. not sure I understood …
Also, if this move breaks below the previous low by a big amount, then we would have a lower low in place. …. so why would we consider a higher high after that ? Because of the false tick or something else too ?
from “evil speculator” – “For the bulls we are quickly approaching a line in the sand that must not be breached. If we breach the May 6 lows things will get out of hand quickly.”
TNA was a Wait today, was down today, and remains a Wait for tomorrow.
TZA was a Hold today, was up today, and remains a Hold for tomorrow. The buy price was $6.10, and TZA closed at $7.68, up 25.9% since the buy.
Of the stocks & ETFs I follow, only one was sold or bought: UUP was sold.
These are to hold on to: EWG(Germany) EWQ(France) RWM (-1x $RUT) TWM (-2x $RUT) TZA (-3x $RUT) SRS (-2x RE) ERY (-3x energy) FAZ (-3x Financials) SPXU (-3x $SPX) QID (-2x QQQQ) DXD (-2x DOW30)
The list to avoid: IWM (1x $RUT) UWM (2x $RUT) TNA (3x $RUT) UUP(US Dollar) GLD (gold) UGL (2x Gold) USO(oil) ERX(3x energy) AAPL AMZN DRI GOOG DIA SPY QQQQ QLD (2x QQQQ) EWX(emerging mkts)
The following are possible (but unlikely) buys tomorrow: IYR(1x RE) URE(2x RE) DRN(3x RE) SLV(silver) UCO(2x Oil) GS EWU(England)
The following are possible (but unlikely) sells tomorrow : DRV (-3x RE) SCO (-2x Oil) DTO (-3x oil) EPV (-2x Europe) DZZ (-2x Gold)
The following are quite likely buys tomorrow: none The following are quite likely sells tomorrow: none
Summary: Very Bearish Action for TNA or TZA for tomorrow: Hold on to TZA, avoid TNA
thanks Mon for your comment on your triggers….I had to leave so couldn't get back to you promptly…I dont want to get greedy so I think I will set up for a sell at 101 and a buy long @ 100. It might get me out a little early and in a little early but at those areas I caught 14 points plus coming down and can get that much going back up…
Its been a good week and half with everyone thanks for all comments and hope to hear from you tomorrow and your trades do well…
Red – futures are sitting at 1065 now. Interesting – great call on your part and thanks so much for all the support.
Red – can you elaborate on the MA coming together …. not sure I understood …
Also, if this move breaks below the previous low by a big amount, then we would have a lower low in place. …. so why would we consider a higher high after that ? Because of the false tick or something else too ?
Consider me your contrarian indicator 🙂
GLD is always a buy now.
Thx Ben…everything I see says get a hard hat and look out below…
from “evil speculator” – “For the bulls we are quickly approaching a line in the sand that must not be breached. If we breach the May 6 lows things will get out of hand quickly.”
Thanks Red I'm entiring 888 for spy just in case.
The Daily view from Americanbulls
TNA was a Wait today, was down today, and remains a Wait for tomorrow.
TZA was a Hold today, was up today, and remains a Hold for tomorrow. The buy price was $6.10, and TZA closed at $7.68, up 25.9% since the buy.
Of the stocks & ETFs I follow, only one was sold or bought: UUP was sold.
These are to hold on to:
EWG(Germany)
EWQ(France)
RWM (-1x $RUT)
TWM (-2x $RUT)
TZA (-3x $RUT)
SRS (-2x RE)
ERY (-3x energy)
FAZ (-3x Financials)
SPXU (-3x $SPX)
QID (-2x QQQQ)
DXD (-2x DOW30)
The list to avoid:
IWM (1x $RUT)
UWM (2x $RUT)
TNA (3x $RUT)
UUP(US Dollar)
GLD (gold)
UGL (2x Gold)
USO(oil)
ERX(3x energy)
AAPL
AMZN
DRI
GOOG
DIA
SPY
QQQQ
QLD (2x QQQQ)
EWX(emerging mkts)
The following are possible (but unlikely) buys tomorrow:
IYR(1x RE)
URE(2x RE)
DRN(3x RE)
SLV(silver)
UCO(2x Oil)
GS
EWU(England)
The following are possible (but unlikely) sells tomorrow :
DRV (-3x RE)
SCO (-2x Oil)
DTO (-3x oil)
EPV (-2x Europe)
DZZ (-2x Gold)
The following are quite likely buys tomorrow: none
The following are quite likely sells tomorrow: none
Summary: Very Bearish
Action for TNA or TZA for tomorrow: Hold on to TZA, avoid TNA
thanks Mon for your comment on your triggers….I had to leave so couldn't get back to you promptly…I dont want to get greedy so I think I will set up for a sell at 101 and a buy long @ 100. It might get me out a little early and in a little early but at those areas I caught 14 points plus coming down and can get that much going back up…
Its been a good week and half with everyone thanks for all comments and hope to hear from you tomorrow and your trades do well…
Two different targets StockTech…
One is the 980-990 area, and the worst case scenario is 875 area.
Anyone want to guess where it could spike down bottom tomorrow?
A 10% drop would be about 960