From Friday, we caught a nice "buy the dip, sell the rip" pivot trade in TZA. Note consolidation area support and whole number resistance:
%% TZA pays a great dividend/LOL.Good day move TZA is down for the week; SQQQ/TECS finished the week up, but i got out anyway, while the getting is good.
Good point, fwiw inverses are oddly divergent lately eg UVXY weaker than SQQQ TVIX. Weakness in tech so I'm looking at SOXS too next week. UVXY I won't call oversold but likely good upside next week if VIX pops
Hi Ken, Nice, fuller chart. I completely missed the "label" on the left, at the bottom of the chart. It says "eSignal 2010". So, indeed, you are using their software from 10 years ago. A simple update will get you to "eSignal 2020". You might as well get your money's worth from their software. Regarding: "Great example is SQQQ swingtrading....... because of it's volatility I prefer daytrading. It's breaking up over 50SMA on 6month daily chart and I'm currently long small size. I want to scale in and swing a big 1000share position as it goes up. How to let it run without giving in to temptation to book profits too soon? I like the idea of opening a different account just for long term 2week+ type swings" You can use Lightspeed for daytrading, exclusively. You can then use your current account (which will become the different/separate account) for long-term trades, as in 2 weeks +...
Thx.... I tried the new version a few years ago, will test it again. I've got accounts with IB tda and fidelity already and they work well. Looking forward to next week.... thx re ideas
%% TZA, SPY inverse ETFs are both in 1 month uptrends; 1 year downtrends. AS with low or no commissions ; last week, rather than add to my win starting scale of SPXS/which can be wise; sold it+ added 2 inverse tech ETFs.You know how they can move well. [For me the tech ETFs/inverse tech etfs, tend to be much more correlated to each other than to spy inverse...………………………………………………………………………………………………………………………..]
Great points, SQQQ tech first big inverse mover , if selling in sp and dow follows, which is likely, SPXS SDOW also good upside
%% SQQQ must be doing well/sold QQQ longs earlier this week; exit TECS today around lunch ,more or less. NOT suitable for all investors/traders/ LOL WED, MAR 3rd ,2021