claydoctor
Long

TZA ready for a healthy bounce on high volume

AMEX:TZA   DIREXION DAILY SMALL CAP BEAR 3X SHARES
36 0 0
TZA             following a clear channel. Whether this ETF represents the general market, or it is a leader, not sure. I know that traders like the 3X funds during consolidation because they represent high risk reward value when most stocks are more or less stalled. Why did it overrun the channel bottom trend? Friday before a extra day off weekend tends to be an up day. Shorts covering. But, vote in Ukraine Sunday, Pope visits Holy Land, lots to cause volatility this weekend. Violence breaks out in Ukraine, could wake up Tuesday to a jump in markets either way. Other side of coin, extra long weekends can be terrible Tuesdays too. Cramer did not get Friday either. Big earnings next week, i.e. Costco, comments... He shared frustration here, expects market may see a meet expectation as a downer and sell off. In fact many earnings next week may dissapoint. Took long position TZA             Friday, to bounce the channel bottom to the upper trend line next week.
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