Not much to say .... SQWIIIIIIIIIIIIIIIIIIZEEEEE ! Man what a week - after going short markets at SPX 1257 area via going long EDZ , TZA and ERY , I've made a fortune just yesterday as markets got smacked down near -2% for the day , what a perfect entry I had !
Hope some people followed me on the trades , now looking very good.
I've got a FULL SELL SIGNAL which means right now you should short the markets - we may have a gap up on Wednesday or so - but this will be a SHORTABLE gap up imho.
I see a very bearish topping hs pattern forming which indicates we are going to see ugliness shortly - that also fits with my thesis that the EU debt plan will DISAPPOINT people more than SURPRISE to the upside - so I guess the trigger for a sell off to start will be the EU debt plan which will come out either today/tomorrow or Friday.
Conclusion:
Got long EDZ 20.3 , TZA low 32 and ERY 14,45 on Monday for swing trades - all up 5-10% already in 1 single day after I took big profits on Monday on my longs - excellent.
So what is downside target ? Well if we BROKE the DOWNTREND from AUGUST at around 1180 on SPX and we gonna BACKTEST this trendline - the target to downside is 1130-1150 - thats pretty long down the road from here ... but just the target on a real backtest, we may have a much smaller pullback , but we take each day and see what happends.
If you wanna follow me you can do it on twitter : Sqwii or come into www.nwatrading.com we have been making a killing in there every single week over the past months since we started, we also had a few loosers but I can tell you , most of the time we had great winners.
Hope to see you there
Have a nice day
I took your advice today and bought SPXU and also ERY. Purchased when the market was up right at the open. I hope I make money on these because I'd love to give you a slight donation.... not that you need one with all those winners. Actually, I could use the donation myself. But you are doing a great job making unbelieve calls. M
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