Another idea is to “buy the breakout” which I believe should be above 8.80. There seems to be strong support for IYR at around 50, which keeps causing DRV to bounce back into a range.
Hopefully, I can find the time to do some charts after the close. The stochastics really do look ready to fall, but I am concerned about a possible “last gasp” push that would be painful to experience while short. Last week, I watched DRV go from 8.70 (my buy) to 9.01 (yay!) to 8.05 (f*ck!) back to the mid-8.70's.
I played the TZA gap fill this morning. I was selling TZA about the same time I noticed Carl selling his /ES. Weird feeling.
Got my first ever DRV today also, but sold it after it ran up. Back to cash again.
True – but it is very difficult to trade tops and even more difficult to get in at the very top.
Another idea is to “buy the breakout” which I believe should be above 8.80. There seems to be strong support for IYR at around 50, which keeps causing DRV to bounce back into a range.
Hopefully, I can find the time to do some charts after the close. The stochastics really do look ready to fall, but I am concerned about a possible “last gasp” push that would be painful to experience while short. Last week, I watched DRV go from 8.70 (my buy) to 9.01 (yay!) to 8.05 (f*ck!) back to the mid-8.70's.
That's interesting.
Dread, let me know I might get back in at that level. I am still in cash.
You are probably right. I am still hanging in there.
“thursday is a new month, it's open thursday won't be far from it's high for the month of april”
What's your confidence level on this? Would you put it at over 90%?
I still think that short is the place to be, but I think I have the proper concern regarding a low-volume ramp during a holiday week.
Argh – that implies it goes slightly higher in April along with the market.