I think TZA finds a bottom (at least for a while) this next week. I looked at buying TZA calls right before close but instead bought a teeny tiny amount of SRS calls because the premium looked better.
Daneric thinks we can go higher, and we can, but I think $RUT is tired from leading the charge and will take a breather first. Other sectors like health care can catch up. Maybe the dow, too.
Summary: The candles today cancelled the possible buy and possible sell of yesterday.
TNA is a HOLD (wait for a possible SELL-IF signal after the close on Monday, for a possible sell at some point Tuesday). Today was a White Candlestick, indicating a normal up day. TNA is now up 40% since the buy signal on Feb 9th. TNA was $36.69 at the time, and closed today at $51.50
TZA is a WAIT (wait for a possible BUY-IF signal after the close on Monday, for a possible buy at some point Tuesday). Today was a Black Candlestick, indicating a normal down day. TZA is now down 30% since the sell signal on Feb 9th. TZA was $11.04 at the time, and closed today at $7.70.
TNA gapped up for the 5th day in a row. Roughly half the gap filled, and then it was off to the races. The gap up was 1.8 % and TNA closed up 5.6%.
We are in a Full Moon Trade, which favors TNA. After five days, this trade is up 15.8%.
Volume for TNA had been trending down for 4 days, but was up today.
$RVX (VIX for $RUT) closed 6.4% lower with TNA up 5.6%.
TNA has been up 16 of the past 18 days.
The high for TNA today was $51.74, highest high since November of 2008
Ultimate Oscillator for TNA peaked at 78 nine trading days ago and has generally fallen since then but has remained above 50 and is currently 74. Indicating continued strength for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s long black candle closed closer to the lower band and the lower Bollinger band is **off the chart** but seems to be falling. Hard to read, but looks like $RVX is falling again, good for TNA.
Bollinger Bands for $RUT: The long white candle for $RUT rose to meet the rising upper Bollinger Band, indicating that $RUT is aggressively rising. Good for TNA
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s candle moved higher, closing at the rising upper band, in line with further upside for TNA.
Carl Futia is a veteran trader, PhD economist, etc. He posts his trades online, which takes guts. Since last March, he's been really good.
Tried to post this earlier, but it got clobbered by disqus:
Is it time for TZA?
http://www.screencast.com/users/dreadwin/folder…
I think TZA finds a bottom (at least for a while) this next week. I looked at buying TZA calls right before close but instead bought a teeny tiny amount of SRS calls because the premium looked better.
Daneric thinks we can go higher, and we can, but I think $RUT is tired from leading the charge and will take a breather first. Other sectors like health care can catch up. Maybe the dow, too.
Dreadwin… thanks for posting you thoughts by the way. I need to see both sides to become a better trader.
Days like today are why I recommended Carl's site to you all. During an uptrend, he's really good.
27 points of /ES is $1350. Just sayin'.
The view from Americanbulls
Summary: The candles today cancelled the possible buy and possible sell of yesterday.
TNA is a HOLD (wait for a possible SELL-IF signal after the close on Monday, for a possible sell at some point Tuesday). Today was a White Candlestick, indicating a normal up day. TNA is now up 40% since the buy signal on Feb 9th. TNA was $36.69 at the time, and closed today at $51.50
TZA is a WAIT (wait for a possible BUY-IF signal after the close on Monday, for a possible buy at some point Tuesday). Today was a Black Candlestick, indicating a normal down day. TZA is now down 30% since the sell signal on Feb 9th. TZA was $11.04 at the time, and closed today at $7.70.
Dread, You think we are not there yet.
See other comment with chart.
Nice Post and good advice.
That's a strong case if I have heard one. NIce Work and great post.
Gcocks,
Couldn't find anything positive for TZA. Things could change on Monday, but everything I saw today looked good for TNA.
TNA gapped up for the 5th day in a row. Roughly half the gap filled, and then it was off to the races. The gap up was 1.8 % and TNA closed up 5.6%.
We are in a Full Moon Trade, which favors TNA.
After five days, this trade is up 15.8%.
Volume for TNA had been trending down for 4 days, but was up today.
$RVX (VIX for $RUT) closed 6.4% lower with TNA up 5.6%.
TNA has been up 16 of the past 18 days.
The high for TNA today was $51.74, highest high since November of 2008
Ultimate Oscillator for TNA peaked at 78 nine trading days ago and has generally fallen since then but has remained above 50 and is currently 74. Indicating continued strength for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s long black candle closed closer to the lower band and the lower Bollinger band is **off the chart** but seems to be falling. Hard to read, but looks like $RVX is falling again, good for TNA.
Bollinger Bands for $RUT: The long white candle for $RUT rose to meet the rising upper Bollinger Band, indicating that $RUT is aggressively rising. Good for TNA
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s candle moved higher, closing at the rising upper band, in line with further upside for TNA.
http://www.americanbulls.com had TNA as a BUY on Feb 9th, and hold since then. TNA remains a hold for tomorrow.
Overall, it looks like TNA continues to distance itself from any congestion and should continue rising tomorrow.