I'm seeing hints in my charts that the market will have it's legs pulled out from under it Tuesday. Have to wait and see.
It's odd. I was looking at NFLX, and a couple more you mentioned, They all looked topped and on the way down. Yet the market keeps going up. I don't get it. I tried a little shorting with TZA but didn't like the heat so I got out. SM
Well, there are so many "indications" that are "blurred" right now that timing 2-3 days out is going to be tough. I can't do it. If you BTC your shorts, I'd stay there for the moment rather than replacing/rotating them. You'll make the $ back anyway. It's a trader's market right now. Until I see a trend take shape, a KR, I'm cautious going long.
Here's where I blew it: I said this: "This sounds like a cop out, but right now, the market is in a very "unstable" place. Take a look at any market and remember that index average. If it moves 1/2% in either direction from where it sits now, it will keep going for at least another percent beyond that. That being said, I think it will move down because of how far and how fast it has moved lately. I think TZA is a buy right now because of that, but man...a person could get killed with the a gap down tomorrow. I'm going to wait for the markets to move 1/2% in either direction and pile on with a leveraged ETF. " The price was sitting right there half-way between a (longer term) bollinger band and the mid-line of the bands of it. I knew it would go either to the upper band, or back to the midline, and I thought I was seeing tendrils of something saying we'd drop. Boy was I wrong. My "tendrils" were "noise" and it marched right up there. Here's the graph now: http://stockcharts.com/h-sc/ui?s=TNA&p=D&yr=0&mn=3&dy=12&id=p14233268101 I think it will hit that upper bollinger and either drag along it (less likely) or bounce right off it (more likely). I think it will bounce back down to the midline. Yeah, I should have held what I had, but I hate riding out a short and then finding out I was really wrong...I always cut my losses early. SM