EliteTrader101
Long

Small Cap breakout during Middle of December

AMEX:TNA   DIREXION DAILY SMALL CAP BULL 3X SHARES
48 0 1
I just took profits on my longs on Friday expecting a pullback to the lows or even better a drop below the bottom edge to grab liquidity. I want to see declining volume on the lows to ensure there is no more supply before the rally begins either in mid month or in time for the santa clause rally. Price will probably compress at the bottom during the quiet holiday week with lower volume . On the larger time frames, this is a huge Bull Flag , just waiting to explode especially after they grabbed the stops in October. Take profit at $100, then rebuy on the tap back to $86 area.

At the same time i see that bonds have peaked and gold             is continuing its drop after it grabbed liquidity from the weak shorts. The quarterly chart on gold             broke below its support and should continue much lower during next year. All commodities are weak because of the strong US dollar             .
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