Using fractal analysis (as taught by Dreadwin) I would wait for a pull away from the bottom Bollinger band for the safest entry. Once it pulls away, it seems to break upwards.
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.
Using fractal analysis (as taught by Dreadwin) I would wait for a pull away from the bottom Bollinger band for the safest entry. Once it pulls away, it seems to break upwards.
On DRV, it sure looks like a BUY should be in there somewhere.
I saw this a couple of times, where AmericanBulls just does not see a pattern it likes, and the thing just keeps rising without a buy signal.
I can only hope it pulls back.
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