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.
I'm growing more fond of Carl's views all the time 🙂
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.