Wednesday, November 16, 2011

Buy confirmed.

4:05pm: Buy was confirmed. Not a strong buy signal, but it should be good enough for a bounce over the next few days. A gap up tomorrow almost guarantees this trade will be profitable. A gap down? Well, not so good. But that's why it's best to keep some powder dry. Time will tell. Good evening!

3:41pm: Open 50% long position in TNA if SPY closes below 124.15. Currently 124.35, so we need a weak finish. Otherwise, hold tight on the sidelines as there will probably be more down side tomorrow, at least according to my system.


  1. Much like yesterday before the big late day sell-off, we are seeing VXX up while the $VIX down. That is bearish.

    On the other hand, we had a breakdown below the triangle which I think will suck in some bears before we blast higher. I'm short term bullish, but it may be just because I'm long and thinking wishfully.