Thanks. FWIW, I can see that TZA should go to $34.50 at a minimum over the next couple of days. Could make it today, but I'm 80% certain it will get there...thats like another 4 to 5% from here.
I'm there with you. Shorting was a mistake. I held over the weekend, which compounded a bad move. But from what I can figure out, EDZ and TZA will gap lower, but I think they'll cover about 2/3 of that gap within a couple hours to mitigate loss. So I'm going to wait. Both are about as low as the can go...especially EDZ...so they are worth holding out instead of panic selling.
No, no no!!!!!!!! Dump a losing position, and come back another day. You'll make it back up on another trade. It's my Birthday, so I KNOW the markets will be up today. That's the ultimate indicator. LOL!!!!! Seriously, if you're losing, dump the trade. Too much psychological damage can be done holding on to a 3:1 position going against you.
i got stopped out for a loss in drv, it was a small position designed to give up a small loss but gap up made me lose a tad more than anticipated. oh well. i'ts tough to call the market. this might have been the move that clears out all the shorts while the remaining shorts hold on and be rewarded, or its an upward continuation. for now i'm done holding overnight positions. i think it'll be easier to profit from following the morning trend and selling when it changes.