Markets were very flat and slowly at the start of the day and I accumulated some swing trade shorts in TZA and SOXS - from low 36's in TZA. By the end of the day mkts plunged further down which looked really good to me and the sell signal on all major indexes is still confirmed.
I think this is the pullback we are waiting for and honestly I'm not sure how and where it will end. My 1st target for it is SPX 1170-1180 area - but we might just test 1190 and we might even go to 1130-1140 - so many possibilities - right now just trying to hold my shorts as long the markets is going down and for now looks like more donwside to me.
VIX seems to me like about to breakout and the euro looks like could have a downside target to 1.34-1.35 area before next rally higher - so for now think with more euro downside - the mkts could pullback some more.
After the pullback is done I'm expecting a big rally higher in mkts again to potential 1300+
Right now I see a clearer pattern in the european mkts so I may just follow tohse closer to see when the US mkts will start to turn up too.
Conclusion:
Got TZA low 36's for a potential swing trade and will remain long TZA until the charts tells me otherwise. Already in nice profits as TZA currently is at 38-39 level.
Got some short silver via ZSL at 14$ and already in profits here too as it is near the 15 zone. All my small cap bios rocking hard and went up 10-30% yesterday so amazing gains made.
Join us in www.nwatrading.com we make a killing in there every single week for now and hopefully will continue so. We got puts GMCR at 94$ with a target of 60's area - right now GMCR below 70.
I nailed the bottom in SPX at 1080 on the day and bought long stocks and 3x ETF and sold at 1220 SPX - then shorted mkts at 1225 area for potential pullback. If you made some money with the biggest rally since 2009 and I still think the lows of 2011 is in - then please make a single donation.
Have a nice day - enjoy :-)
No comments:
Post a Comment