Posted by rgoodwin on 12th of Aug 2008 at 11:32 am
I agree. I took it twice at 80 and stopped out of both - maybe
the stop was too tight but it has since broken down much further.
The DT line looked to me to be 80.
DIG stopped at the downtrend
line. However I think DIG is trying to pound out a bottom. Remember
that bottoming is a process and subject to false starts etc. Also,
DIG can swing $1 in the blink of an eye.
However I don't want to see DIG
fall below 75, otherwise it will test the lower trendline
again
Posted by rgoodwin on 12th of Aug 2008 at 11:43 am
Thanks Dylan, I may give it another try. I need to remember this
about the ultra ETF's. Too often I try to trade them like a stock
but I know they move a lot more than most stocks.
Thanks for all your input on DIG guys. Crude is trading like a
wet spaghetti today, and the SPX is not helping the long
side. I'll just set a stop on DIG and let it spin.
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DIG
DIG
Posted by rgoodwin on 12th of Aug 2008 at 11:32 am
I agree. I took it twice at 80 and stopped out of both - maybe the stop was too tight but it has since broken down much further. The DT line looked to me to be 80.
DIG stopped at the downtrend line.
Posted by matt on 12th of Aug 2008 at 11:38 am
DIG stopped at the downtrend line. However I think DIG is trying to pound out a bottom. Remember that bottoming is a process and subject to false starts etc. Also, DIG can swing $1 in the blink of an eye.
However I don't want to see DIG fall below 75, otherwise it will test the lower trendline again
DIG chart
DIG 60 min chart.png
DIG
Posted by vmath on 12th of Aug 2008 at 11:43 am
Thanks Matt
matt, forgive my ignorance, what
Posted by googool on 12th of Aug 2008 at 11:42 am
matt, forgive my ignorance, what do you mean by "pounding out a bottom"?
with these ultra ETF's you
Posted by dylan398 on 12th of Aug 2008 at 11:35 am
with these ultra ETF's you have to give it wiggle room...My stop is below fridays LOD
DIG
Posted by rgoodwin on 12th of Aug 2008 at 11:43 am
Thanks Dylan, I may give it another try. I need to remember this about the ultra ETF's. Too often I try to trade them like a stock but I know they move a lot more than most stocks.
Very much appreciate your comments!
DID
Posted by vmath on 12th of Aug 2008 at 11:51 am
I second that!
DIG
Posted by vmath on 12th of Aug 2008 at 11:41 am
Thanks for all your input on DIG guys. Crude is trading like a wet spaghetti today, and the SPX is not helping the long side. I'll just set a stop on DIG and let it spin.