Wednesday, December 12, 2012

Holding 100% TZA.

All systems remain 100% short. As planned, I took my TZA position to an uncomfortable level earlier this afternoon leaving only a couple hundred bucks in my account not invested in TZA. I couldn't be more pleased with today's late action. Hopefully we see some follow through the next few days. Thanks for hanging in there thus far, and I'll see you tomorrow. J

14 comments:

  1. Love these relatively early posts, JT, some wiggle room before close to position.

    We understand you cook and serve the conclusion/reading as soon as you can, never an implication of dawdling, but sometimes an add'l 5-minute window can make a goodly difference on entry price or exit price, or in setting scale-in amounts...

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  2. I think it may be time to hop into the TZA wagon. I just bought a nice chunk worth.

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  3. Mkt starting to wake-up a bit, perhaps... Got my fills early today, too, J. Love that candle action - bearish engulfing daily TNA.... sweet. Too bad so many other indices failed to join in the fun. So still I'm not fully exuberant (and heartily short) because FOMC action is usually erased the next day... and we gotta start taking out some prior LODs (and, as I say so often, "not on some BS gap open"). The only way I'd love to see a "gap-n-go" would be on TNA tomorrow, and leave a nice 2-day Island Reversal ... but, that's asking a lot of the bears in this mkt here now.


    John

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  4. sure feels like the russel still relatively strong?

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  5. It is, as are the rest of the indexes, which are mostly in a newly determined uptrend.

    So, unless there is a catalyst to give us a drop or a pop, I am nervous about our short position.

    Only time will tell...

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  6. MarketWatch:
    S&P cuts outlook on U.K. AAA rating to negative

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    1. http://www.marketwatch.com/story/sp-cuts-outlook-on-uk-aaa-rating-to-negative-2012-12-13-12913854

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  7. I think Jared had the right idea, buying TZA yesterday. It's looking like the uptrend is over. I've been holding SPXS lately and that's finally starting to come back to life too.

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    1. I hope so haha. I bought 200 shares at 14.71. It isn't much, but I don't put a lot into my individual account because I'm no expert by any means and don't want to pass out one morning at an enormous loss. So far TZA is doing well, but it is seeming to struggle at the moment to go higher.

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    2. I dunno - it's up almost 3% on the day so far. Isn't that good enough? You're beating my SPXS which is up "only" 2.5% :-) (And I only have 200 shares of that too - for the same reasons).

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    3. We are doing much better now. :) I'm curious to see if there will be any signal today or if we will continue holding. Days like this make me want to sell just to lock it in haha.

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  8. Making a killing in NQ shorts today. Daytrading action phenomenal today. Like I said... Seems like the mkts are indeed "starting to wake up a bit". So, enjoying this.

    Anyone else notice the YM & ES March 2013 contracts are trading suspiciously light today?... usually better volume on rollover day than this... esp after 10am.

    Looking to start locking (a few) profits on TNA shorts... and trailin' the rest. Loved how we took out LOD after 10am.... that was sweet.

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  9. everyone is chatty when we make money

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