AB still hasn't decided to by DRV yet, either. Take a look at the candlesticks that pop up! The only reason I didn't get into DRV today was that it was about 9% off the recent bottom.
TNA remains a WAIT (wait for some kind of buy signal). The sell was at $55.61. TNA closed today at $54.58, down 1.8% since the sale. The candlestick today was a Black Candlestick (normal selling pressure).
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $7.16, up 1.6% since the buy. The candlestick today was a White Spinning Top Candlestick (complete indecision between Bulls and Bears).
Two recent TZA Buy signals have failed and may perhaps serve as a warning: Buy at $7.33, sell at $7.14 Buy at $7.11, sell at $7.05 Buy at $7.04, now up 1.6%
For that matter, recent TNA Buy signals have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs (Market positive): Wait: DRV(-3x), SRS(-2x) Hold: DRN(3x),
I went long DTO, entry 59.25. $WTIC (i.e. oil) set a recent-rally high today. It looked like the juiciest thing to short, given that most of the other indexes were already off their peaks.
AB still hasn't decided to by DRV yet, either. Take a look at the candlesticks that pop up! The only reason I didn't get into DRV today was that it was about 9% off the recent bottom.
Thanks Earl. I enjoyed the discussion down below also.
The Daily view from Americanbulls
TNA remains a WAIT (wait for some kind of buy signal). The sell was at $55.61. TNA closed today at $54.58, down 1.8% since the sale. The candlestick today was a Black Candlestick (normal selling pressure).
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $7.16, up 1.6% since the buy. The candlestick today was a White Spinning Top Candlestick (complete indecision between Bulls and Bears).
Two recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, now up 1.6%
For that matter, recent TNA Buy signals have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs (Market positive):
Wait: DRV(-3x), SRS(-2x)
Hold: DRN(3x),
Market Transition:
Highly reliable SELL-IF:DIA, QQQQ, IWM(1x), UWM(2x) [all Bearish Kicking Pattern]
Market Negative:
Wait: URE(2x), IYR(1x), SPY, TNA(3x)
Hold: DTO(-2x oil), RWM (-1x), TWM (-2x), TZA (-3x)
Comment: more market negative than yesterday
Action for tomorrow: none
RIMM reported down about 5% now. Should gap down tomorrow IMO
financials looks ripe, the operators gave a de-leverage tick on 3.22 of $15
USO bumped it's head on it's controlling TL again, good short entry
this is an old chart from 3.17 but USO hit the blue TL again today
http://www.flickr.com/photos/47091634@N04/44411…
I went long DTO, entry 59.25. $WTIC (i.e. oil) set a recent-rally high today. It looked like the juiciest thing to short, given that most of the other indexes were already off their peaks.
late day sell off pushed the $RUT below it's 679.75 for the monthly close
$SPX slight violation of it's 1162.5 purple line containment
So you are in DTo. Hope it does well for you.
Fractal analysis suggests that TNA will make a last gasp tomorrow.