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TNX turning down what got me to think that this market will not go on much higher BKX is still strong.GreedyKojiro wrote:Very nice executions!BullBear52x wrote:26.92 well, it's all gone now, waiting for more sign maybe selling financial FAS/FAZ next.GreedyKojiro wrote:at what price did you sell?BullBear52x wrote:I shorted TZA yesterday let seeGreedyKojiro wrote:Sold all TNA at $45.50 and loaded a small batch of TZA at $26.33 (11 cents shy from 52-week low) on premarket.
Officially it just starts next week, isn't it true?Me XMan wrote:Santa rally over after today?
Pullback to 1240? green neckline? or lower 50 day?... or a quick strong pop to the 200 dayCMT wrote:You've been posting some pretty good charts for awhile now, keep them coming!fehro wrote:or maybe just a little higher 1255? or just explode up?
Yes, that was what I saw alsoBullBear52x wrote:TNX turning down what got me to think that this market will not go on much higher BKX is still strong.
I think its the last 4 or 5 trading days in Dec. and the first 2 in Jan.gabor wrote:Officially it just starts next week, isn't it true?Me XMan wrote:Santa rally over after today?
Shorting TZA is like buying TNA, when I feel the weakness/strength in any sector/indexes I will go at it. as far as 52 week Hi/Lo they mean nothing to me and my style of trading is I don't target or project price of support/resistance, I will react to them. like SPY at the current stage, a resistance, base on my yellow level marked, am I selling it here? No. I shorted TZA since yesterday because I got buy signal on IWM before the close, instead of buying TNA, I picked to short TZA. right now I am doing nothing.gabor wrote:I do not understand the rationale behind your TZA short and the arguments behind it. TZA is close to its 52 week low, therefor lets short it. The TZA is linked to $RUT, if the russel index is not about to break out from a resistance, why would you expect TZA to break down and behave independently from RUSSEL. Due to the tracking error it is falling more than $RUT would justify it, but it is still linked to it. It woth shorting on long term anyway, because you can earn the racking error, but this is fairly independent of its TA status.BullBear52x wrote:covered TZA, TNX is weaker than usual, something is not right.
gabor wrote:Officially it just starts next week, isn't it true?Me XMan wrote:Santa rally over after today?
DAX direction is not clear yet, so I won't say it's a bear flag. It's in a range so far. Euro is weak that's for sure.Linus wrote:cobra, is there a bear flag on the dax chart you just posted? Euro is still in trouble, and post christmas and going into new year, we may see eu leaders meeting and talking about more problems. thanks for all you do cobra
Being a casual scalper I like the 52-week low if you know what I meant...BullBear52x wrote:Shorting TZA is like buying TNA, when I feel the weakness/strength in any sector/indexes I will go at it. as far as 52 week Hi/Lo they mean nothing to me and my style of trading is I don't target or project price of support/resistance, I will react to them. like SPY at the current stage, a resistance, base on my yellow level marked, am I selling it here? No. I shorted TZA since yesterday because I got buy signal on IWM before the close, instead of buying TNA, I picked to short TZA. right now I am doing nothing.gabor wrote:I do not understand the rationale behind your TZA short and the arguments behind it. TZA is close to its 52 week low, therefor lets short it. The TZA is linked to $RUT, if the russel index is not about to break out from a resistance, why would you expect TZA to break down and behave independently from RUSSEL. Due to the tracking error it is falling more than $RUT would justify it, but it is still linked to it. It woth shorting on long term anyway, because you can earn the racking error, but this is fairly independent of its TA status.BullBear52x wrote:covered TZA, TNX is weaker than usual, something is not right.
Thanks, for the explanation. I still do not understand the technical point. How do you short TZA? You have to own it, or have to borrow. Is your brokerage is so flexible, or you hold TZA? Buying and selling something is a straitforward transaction. That is why TNA and TZA was created in pairs, just to make things easy. Instead you do the opposite. May be I am too conservative ...BullBear52x wrote:Shorting TZA is like buying TNA, when I feel the weakness/strength in any sector/indexes I will go at it. as far as 52 week Hi/Lo they mean nothing to me and my style of trading is I don't target or project price of support/resistance, I will react to them. like SPY at the current stage, a resistance, base on my yellow level marked, am I selling it here? No. I shorted TZA since yesterday because I got buy signal on IWM before the close, instead of buying TNA, I picked to short TZA. right now I am doing nothing.gabor wrote:I do not understand the rationale behind your TZA short and the arguments behind it. TZA is close to its 52 week low, therefor lets short it. The TZA is linked to $RUT, if the russel index is not about to break out from a resistance, why would you expect TZA to break down and behave independently from RUSSEL. Due to the tracking error it is falling more than $RUT would justify it, but it is still linked to it. It woth shorting on long term anyway, because you can earn the racking error, but this is fairly independent of its TA status.BullBear52x wrote:covered TZA, TNX is weaker than usual, something is not right.