Anticipate a decline to 8.42 support. May not get there so buying at 8.58 with target of 10.55
Risk .24 / 2.8% vs. Reward 1.97 / 22.96%
Trade should occur over next couple of weeks
I'm taking a position on TZA at 16.55 anticipating it will break the 16.75 Resistance line and move to 17.80 which is next level of Resistance. Keeping a tight .25 stop loss. Risk is .25 / 1.50% vs. Reward 1.20 / 7.25% (Ratio 4.8)
Update 10.1 - JNUG did not bounce and moved below previous support which is now showing up resistance.
JNUG is on watch for a bounce to it's Resistance line of 16.75. If it bounces off of support at 12.72 which we saw it do on Friday and Stochastics start to turn up then could be worth picking up some shares for a day trade or 2 day swing play. If bounce occurs...
UPDATE 9/28.14 TZA worked out well and hit price target. Sold position as I don't like to hold on too long in this market. Still on watch for a breakout of 16.55 Resistance
Could be chasing here but don't think so. Path of least resistance is up and see no positive news to turn this around in short term. Use extreme caution as markets are insane. Protect capital....
In life we usually follow the path of least resistance. The path for IWM is down and has been following that for a while now. The question is do we bounce to new highs or continue lower? Looking at the charts lower seems to be the path. I would buy TZA to achieve a better return but keep an extremely tight stop as the market likes to do the opposite of what I...
Lately Gluu has been struggling after a nice run with their hit KKH. Unless KKH or another Gluu game really takes off then it is likely to bust through the 4.84 support and head to 3.84.
