Well, the S&P 500 didn't hit my target 1180. It did hit 1173. Now the market will retrace back down to Monday morning gap.
Watch for CLF. If CLF breaks down below 50 market. You can expect the SPY to hit 106 again.
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The market dropped more than 100 points after 10:00 AM. It will likely close down more than 100 points.
ReplyDeletei was in tza 5.80 after you on wednesday. i sold this morning @ 6.09 for a nice bonus.
ReplyDeletetried to convince myself to buy spxu premarket today. just wasn't sure if they were going to take us straight down like they did and figured i could get a better price under 30. that never happened
cersess
BAS, I bought 5.90 couple days ago. It did dropped down to 5.50 area. Did I panic? No. Becuase I don't trade on my emotions. I know TZA will go back up to fill some gaps, 6.20 and big gap between 6.50 to 7.50.
ReplyDeleteI didn't panic yesterday either ;)
ReplyDeleteI should have doubled up.
Sometimes I end up in day trader mode mentally... I've been beaten up too much to think long term multi-day/week holds.
although TZA worries me..reminds me of FAZ.. SPXU is much more 'stable'.
gastring
Sold TZA at 6.25.
ReplyDeleteThe market had retraced back down to Monday morning gap. Now there is gap from this monring gap.
ReplyDeletelooks like the trendline broke and with some wild backtesting on spy. nice to see the trendlines acting nicely for a change.
ReplyDeletei played spxu 2 times. i got scared out and lost the 1st time.
and i got back in and made it back and more on the last run under 113.
i think i done playing for the day before i manage to mess myself up ;)
fulleo
3rd run to 112.90 failed to poke through.
ReplyDeletethrouti
looks like a massive support area from january 2010 on spy
ReplyDeletethrouti