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Using time series of vertical purple lines predicted change of direction 9am May 10th. Using same idea for the pink vertical lines predicts change of direction the current hour. Plus it hit the dotted brown TL. Long a little UCO, and not a long-term holding, likely out by end of day regardless of winner/loser.
JUST INFORMATION, NOT A RECOMMENDATION AT ALL. Just playing with this idea and sharing the experience
Just to disclose...I'm out of UCO for a small 1.8% gain today.
AlDayTrade: Boring as it may be I Watch gold/silver. What I Finally learned yest. This Fed buying, as I posted yest. evening in Cobra EOD post & Jack posted here this morning,--- what I'm seeing is that as long as Fed is Very Overstimulating this market the dips in equities will be bought, no matter how goofy the indicators. Next few days are lesser Fed gifts to market so gold/silver may attempt a little up relief. Overall, until this QE noose support is removed, equities up and Au/Ag are down to sideways. Next few days schedule:
Thu, May 16, 2013 Fri, May 17, 2013 Outright Treasury Coupon Purchases 02/15/2036 - 05/15/2043 $1.25 - $1.75 billion
Fri, May 17, 2013 Mon, May 20, 2013 Outright Treasury Coupon Purchases 02/28/2018 - 02/15/2019 $4.75 - $5.75 billion
Mon, May 20, 2013 Tue, May 21, 2013 Outright Treasury Coupon Purchases 02/15/2036 - 05/15/2043 $1.25 - $1.75 billion
My only present plan is to buy equity(a call) hopefully on Tomorrow's low as Fri's Fed # is high again. Check out the whole list and every stimulus has brought this bull market up a notch in month of May so far.