I bought some SDS for my IRA today. Fading me is a high probability trade. Good luck. Although I did nail BAC and NFLX bottoms...scaling in, of course. So be careful.
Short term trade, obviously. I know you can't hold these leveraged ETF's for long (or long, lol). I'll cut it loose, win or lose, in a couple weeks. It just seems like too much gigginess right now, even in the face of crude, Iran, N. Korea, Greece, etc. Whatever, it won't make or break me either way. If the CNBC market cheerleaders are wearing their DOW 14000 hats in the next couple days, I'll go "all in" short.
I bet chop and boring. either I'm right and happy because I'm right, or wrong and happy because the market is actually doing something.
You need to do Technical Analysis 101. The chart patterns tell you a great deal. Here's another for you... http://stockmarket618.files.wordpress.com/2011/07/2011-10-02_sp500_mth_x.png
im sorry but that last chart was the biggest pile of horse crap i have ever seen , you need to go re check that Technical Analysis 101 i agree with chart patterns telling you a great deal but some people don't question things other people teach them and just accept a pretty picture like the one you just posted the reference points were all out of whack .... i mean seriously if you going to slam someone with go learn some TA at least have the decency to know TA before you do it !