Monday, July 12, 2010

Bought TZA - $37.90

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I just bought TZA at $37.90.  I had a few things to support my confidence to take the trade.
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First, a trend line breakout of both price and the True Strength Index indicator.
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Second, a ZERO crossover of the indicator.
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Third, a divergence in place with price falling and TSI rising.
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The shaky aspect of the trade is that it is based on a 10 minute chart and can change very quickly.  In fact, in the 15 minutes it has taken me to make this chart and write this post and so on, I see my trade could have been sold a few minutes ago for a decent but small gain.  OK, I'm taking a deep breath....patience ...... John ........ it's only money.......
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Click on the chart to ENLARGE

1 comment:

  1. John, the AAII survey just showed there are only 21% bulls which is one of the lowest numbers in 15 years! Stocks most likely started at least a three month BULL MARKET.

    Be careful using 3x bear funds!!
    Ron

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