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J, you're killing me...........SPXU or TZA?
I was mobile today at the close and couldn't offer a worthy commentary. I purchased SPXU in the afternoon when SPY was filling the gap. TNA wasn't quite there yet, so I shorted the SPX due to it being more overbought, relatively speaking. It was a non-system trade that I'm using as a substitute. Will add TZA tomorrow if we go higher.
I think he is confused by this:"I will follow along with a 50% long TZA position. Speaking of TZA, now that January is gone we will forget about shorting SPXL/buying SPXU."
It was simply a speculative trade based solely on the fact SPY filled its gap and TNA hadn't.
J, you're killing me too, with all the great calls your systems have been making.
Thanks, A! I'm pleased with how it's catching these moves as well. I'm up almost 6% and I just started trading 8 days ago! Incredible.
Tough mkt... but bears gotta like that oscillating pattern on the 60min SPX chart... others will call it a "broadening top". Mkts slowly starting to open up again... it's twitchy, that's for sure.Put on some shorts w/ya, J, here in A/H. 1508 ES.... will add another set on a big gap up open tomorrow above today's HOD (if we get that). Will play the fade w/partial. Leaving room to add.... If they can get the SPX down about -9 tomorrow, I'll cover some and then lock in stops on all the remainder.
Looks like Rob had similar thoughts as I had after Monday's sharp reversal back down.http://3.bp.blogspot.com/--jIMVrsJenE/UREJ8yVkRtI/AAAAAAAACng/8YTXLwNLyps/s1600/2013-02-05.pngDifferent analysis, but similar forecast and odds.Though, when it's going to work well, the weakness usually ensues right away. So, odds are, more and more, that we're going to get the ~20% of the time where it doesn't happen. That's life. Next!
I would go short with you here but I'm out of buying power for now because the last two trades closed so quickly. Can't complain about the gains though! I think a significant pullback is right around the corner, if not already at our doorstep. Futures are looking good for your short so far.