AMEX:UWTI   VELOCITYSHARES 3X LONG CRUDE ETN LINKED TO THE S&P GSCI CRUDE OIL INDEX EXCESS R
258 8 3
If reversal here at the 2.90ish and a gap close there is a possibility of a Bearish Shark

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Have sold at the second spike at 2.14. Entry was at 2.89.

It looks more bearish now. No follow through and a full retrace of spike. I doubt we'll see the Bearish Shark . Next possibility is a Bearish Cypher . That will retest the 1.272 or a test of recent lows at the 1.618 fib. I could see that coming with a close under 2.89.
I'll will re enter on strength !

Safe trading here ladies and gents!
_________________________________

Time will tell

Safe trading ladies and gents!

@BLawrenceM
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$UWTI First "little" and beginning support on the 1 min captured the ma20 and 200 http://gyazo.com/4181bffe819a96882c4e79caaf117d75.... But still a long way out of the woods!!!
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$UWTI Slowly turning a little more bullish http://gyazo.com/d51952ef6c95d956074664318e2a25ee
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Have taken profit the second time around after the quick spike at 2.14 http://gyazo.com/858a14c488a4a8e9eaf524bd96e599ac
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WallStScalper PRO WallStScalper
2 years ago
I'm not bearish, but It's not showing the strengh I would have loved to see and want to play with other stocks. I will reenter if strength shows up
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Okay! The 61.8 retrace of spike. Let's now see the strengh before I re-enter
snapshot
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WallStScalper PRO WallStScalper
2 years ago
There is not commitment.... follow through - I think it's too much of a gamble to stay long over night. I'm rather in cash and buy later when I see commitment
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It looks more bearish now. No follow through and a full retrace of spike. I doubt we'll see the Bearish Shark. Next possibility is a bearish cypher. That will retest the 1.272 or a test of recent lows at the 1.168 fib. I could see that coming now with a close under 2.89. Safe trading here ladies and gents!
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Alex Voitov
2 years ago
Looks like you've sold with profit anyway at 3.14 not 2.14 :)
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