I got my order filled on TZA 31.01 Russell almost
filled the gap when it hit 644. Ress. is 642-647 so good
enought for me. Looking to swing this into next week.
I was watching 632-633 level .. Now that has gone past 30mins.
I'm in no hurry to exit my trade. I see nothing on internals
for intraday which leads me to believe the sell off won't stop into
the close
FWIW, I am thinking this current pullback is limited to no more
than 1070-1080 SPX. Then, looking for a re-test of last week's
high. The most bearish outcome would be a lower high with lousy
internals; then next outcome possibility is a test of the trendline
drawn from the Jan 2010 high thru the Summer highs. But if it gets
above there it could romp because sentiment is still quite bearish.
I don't see great confidence probabilities in any outcome
Don't know but I do know that Daily at 640 is going to be TOUGH
to crack .. Objective area to enter playing downside. I put
trades on swing wise using the daily so not looking for quick buck
here. Going to give that trade time to work. Remember
the trend is down and until they take this area back and hold its
Ress.
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TZA
Posted by cspirit on 3rd of Sep 2010 at 10:03 am
I got my order filled on TZA 31.01 Russell almost filled the gap when it hit 644. Ress. is 642-647 so good enought for me. Looking to swing this into next week.
TZA target
Posted by dallassteve on 7th of Sep 2010 at 02:04 pm
cspirit,
I am short the IWM, so I am watching the Russell. I imagine you are still holding TZA.
I am looking at the 38% retrace of the last move down on TZA, which on my chart looks like right around 34. Do you think it will reach this level?
I would be happy to cover my IWM short at the 38% retrace, around 62.7
Anybody else?
I was watching 632-633 level
Posted by cspirit on 7th of Sep 2010 at 02:59 pm
I was watching 632-633 level .. Now that has gone past 30mins. I'm in no hurry to exit my trade. I see nothing on internals for intraday which leads me to believe the sell off won't stop into the close
Taking off 1/3 of my
Posted by cspirit on 7th of Sep 2010 at 03:56 pm
Taking off 1/3 of my TZA here ... Moving my stop up to break even on remaining 2/3.
FWIW, I am thinking this
Posted by PA on 7th of Sep 2010 at 02:41 pm
FWIW, I am thinking this current pullback is limited to no more than 1070-1080 SPX. Then, looking for a re-test of last week's high. The most bearish outcome would be a lower high with lousy internals; then next outcome possibility is a test of the trendline drawn from the Jan 2010 high thru the Summer highs. But if it gets above there it could romp because sentiment is still quite bearish. I don't see great confidence probabilities in any outcome
nice timing on tza, my
Posted by hazbin1 on 3rd of Sep 2010 at 10:17 am
nice timing on tza, my signal came @ 31.25, took it.
Good call, do you plan
Posted by qsong2000 on 3rd of Sep 2010 at 10:16 am
Good call, do you plan to hold it through weekend?
Yes I'm holding onto it
Posted by cspirit on 3rd of Sep 2010 at 10:19 am
Yes I'm holding onto it to swing it for next week.
TZA
Posted by dallassteve on 3rd of Sep 2010 at 10:42 am
Sure is moving down.
cspirit, you posted you were swinging this into next week.
If the gap fills, I am tempted to sell it today and lock in a gain.
Do you think it is moving down to the 59 area again?
Don't know but I do
Posted by cspirit on 3rd of Sep 2010 at 10:47 am
Don't know but I do know that Daily at 640 is going to be TOUGH to crack .. Objective area to enter playing downside. I put trades on swing wise using the daily so not looking for quick buck here. Going to give that trade time to work. Remember the trend is down and until they take this area back and hold its Ress.