playing out just as hoped. we got that morning choppy weak attempt at a rally(which was pretty pathetic to be honest) and helped solidify these patterns on the inverse funds and now look set to rally. barring any overnight FED intervention, i am expecting these charts to move a lot higher over from here.
happy trading.
11 comments:
Stew-love your site.What do you think about today's low volume.
well, i think that the mrkt can keep dropping on 'low' volume. don't make that be your guide to doubt the selloff.
indices look like shit, I did not want to put shorts before the close and now I am hoping for a rally. we will see
Just discovered your site a few days ago, and love your site (as above). I am too concerned about the low volume pushing through the resistance levels, not very convincing, almost like a bear trap.
In anty case I'll be trading the set ups I see and nothing else...
Told u guys las nite...SKF, EEV, and SRS!!!!!!! Resistance is futile!!!!!
hi stewie, I too have just discovered your site and it has become one of my favorites. I am not so technically savvy and try to learn from your explanations. One thing though, you have been talking about inverse ETFs; but haven't see much commentary on DXD. Any insight here? Keep up the great work on this site!
anon: DXD is in the same boat as the others. very bullish short term higher prices likely.
anon with the Inverse Funds ATM: great call buddy! leave your name so i reply to you.
The volume was pretty weak, yet we got a massive 10pt pop in 10min to close the day. Something related to the CDS auction I heard.
Hey Stew,
Asian market is up 6%, so there might be a rally tomorrow AM...
I will probably unload SRS, SKF, and EEV in premarket and then buy back on the intraday dip.
Long UYG at 7.90
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