Yes the leveraged ETF's can be tough, especially the triple
leveraged 3X ones, if you don't have confidence with them, that
gives you your answer not to trade them and stay away, or only do a
tiny amount.
last night I discussed the XLF financials were holding up well.
FAZ on the daily might also need to make a divergent low first,
hard to say. what made you buy it yesterday? I wasn't
surprised to see the market follow through today because the 15 min
bull wedge patterns on the SPX didn't hit their targets, didn't
even rally 38%, generally they do at least that.
Anyway I suggest adhering to your stop since you are in
it.
here's a view of the newsletter where you can see what I said
without view the whole newsletter, see#11, #13, #14,
Posted by frtaylor on 16th of Oct 2012 at 09:44 am
In it due to the chart posted w/ downtrend line last week and
the discussion surrounding it, and I had some positions to hedge.
FAZ position small. I may just bail here even before
the stop; waiting to see if the market gap is going to hold.
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No follow thru yesterday with
FAZ Daily
Posted by steve on 16th of Oct 2012 at 09:29 am
No follow thru yesterday with the market bouncing so make sure you adhere to your stop.
thanks.
Posted by frtaylor on 16th of Oct 2012 at 09:37 am
thanks.
Some Trade Ideas to monitor
Posted by matt on 16th of Oct 2012 at 09:40 am
Yes the leveraged ETF's can be tough, especially the triple leveraged 3X ones, if you don't have confidence with them, that gives you your answer not to trade them and stay away, or only do a tiny amount.
last night I discussed the XLF financials were holding up well. FAZ on the daily might also need to make a divergent low first, hard to say. what made you buy it yesterday? I wasn't surprised to see the market follow through today because the 15 min bull wedge patterns on the SPX didn't hit their targets, didn't even rally 38%, generally they do at least that. Anyway I suggest adhering to your stop since you are in it.
here's a view of the newsletter where you can see what I said without view the whole newsletter, see#11, #13, #14,
http://breakpointtrades.com/market_analysis/newsletter.php?nl_id=1287
In it due to the
Posted by frtaylor on 16th of Oct 2012 at 09:44 am
In it due to the chart posted w/ downtrend line last week and the discussion surrounding it, and I had some positions to hedge. FAZ position small. I may just bail here even before the stop; waiting to see if the market gap is going to hold.