Last week, I was targeting a short on the DOW. The setup still looks valid, so it's time for entry. It's my first time making a stock trade, so I'm just going to use Robinhood and purchase the inverse DOW index (SDOW).
I see some very strong bullish diverge on the weekly chart. Even smaller timeframes look to be coming to an end of their downtrend in the...
If you are of the opinion, that this 2019 stock market rally
may be slightly extended,or perhaps even a bubble in the making
you have a simply way to significantly capitalize on that opinion.
Inverse ETF's offer a trader a ridiculously simple way to get into
the market on the short side, and then simply wait..patiently,. for the downside" event" to unfold.
Here is a Daily for SDOW (inverse dow shares)
Basic chart with long term support and Trend based fib extension meeting on or near current price levels with falling sell volume.
I also see the Nasdaq being at or near a falling wedge pattern trend line.. will update.
Good luck and safe trading .
SDOW, Pro Shares 3 X Short Dow ETF was UP
over 6 %, in one day on Dec.17,2018, on a 2 % Decline
in the Dow Industrial Average
Rather than buying options, or shorting Dow Futures
buying SDOW ETF can easily turn your opinion on the DOW,
into a very lucrative payday in just a matter of hours.
And with almost 10 Millions shares traded on Dec.17,
Ok here is a potentially nice entry with a liberal stop loss for SDOW and yes were going for the big bucks on this one. Take profits liberally throughout and move up your stop loss overtime.
Whenever the market rebounds a bit, this will come down pretty hard so we need to lock those profits in on the way up.
This will be a fun one. Ill be swing trading this a...