Saturday, September 17, 2011

Sold TNA $45.00

I finally got worn out and sold my positions in Direxion Small Cap Bull 3X (TNA) at $45.00. This is a 4 hour chart of TNA that I snapped just after executing the sale yesterday late afternoon.

The True Strength Index (TSI) indicator is very high and threatening to, once again, roll over. Also, price appears to be completing the right shoulder of a head & shoulders pattern.

It is, of course, possible that I exited too soon. Heck, anything is possible, right? Ben could announce something this upcoming week and send stocks and gold screaming higher. But the liklihood of that is just another coin flip. I'll regroup and try to reuse my funds in opportunities that have odds a little more in my favor.

My TSI trading record has been updated.


  1. Hi John. What TSI settings are you using on the 4 hour chart?

  2. Hello Mr. Townsend,

    Thank you for your works.

    I would like to know your hourly basis TSI chart tool.

    I tried to use "" but they do not provide hourly basis gold, silver, platinum and even USD index charts.

    How can I get hourly basis (1, 2, 4 or 8 hours) gold, silver and platinum charts through any web service or sowftware as free or you advise any payment required solutions?

    Thank you for your reply in advance.
    I greatly appreciated your charts and comments.


  3. Anon - as the chart shows, the TSI settings I use are (7,4).

    RB - for the hourly charts, etc., I use the freely available software at

  4. Thank you sir,

    I downloaded and installed thinkorswim client sw but the sw won't start.
    I keep getting "Please retry with a valid logon" message.

    I am not sure but maybe something wrong with my account on thinkorswim.

    Thanks again.
    Have a nice weekend.


  5. RB - you have to proceed far enough into their application process until they ask you to choose a username and password. Once that step is completed, you can run the software and enter those items as they are now your assigned username and password. In short, you did not go far enough into the application process.

  6. John, Sorry for your lose in this position but I think your timing was perfect. If you look at the hourly chart on TNA you'll see how the strength has been dropping since the 8th while the price has gone up. I've found that to be very telltale to exiting a position. In this case I used the info to buy puts. Wish me luck.

  7. Thank you Mr. Townsend.
    I will contact with support stuff from thinkorswim.

    Have a nice sunday.

  8. thank god you are cleaning house, now you can get back to trading again. Holding on to losers clouds the mind.

  9. John,
    Sucks about TNA. DZZ going up, should meet your target at this rate.
    Keep up the good work, you will no doubt recoup this loss and then some, if only this damn school thing didn't hold you down so much....