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Direxion Daily Emrg Mkts Bear 3X Shares Message Board

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  • sah1958x sah1958x Jun 1, 2010 10:38 AM Flag

    Bimped it's head on that 1084

    I am just a spectator just waiting and watching for the perfect oportunity to short the living crap out of the S&P index. I have all week to wait. if I have to wait till thursday when the jobless claims numbers come out, than so be it. if I have to wait till Friday when the empoyment situation numbers come out, than so be it.

    being that I am a 100% technitian, the perfect time to get in market is only when I get a Short the market signal from all my indicators, and only than..... I never trade on the news, I only us the news for as a short term indicator as to where the market might be headed over the next 60 minute period...

    The weekly and daily charts are still heavily bearish, so it's just a matter of time before the hourly and 10 minute charts turn bearish again. I have all week to wait ...I am in no hurry.

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    • edwardzak Jun 1, 2010 11:55 AM Flag

      doc what #'s are you looking for to get back in?

      • 1 Reply to edwardzak
      • I got in EDC early this morning at $22.01. Rode it to 23.09 with 8,000 shares. Cashed out and am walking away for the day. In my opinion, 3X shares need direction and momentum. We have neither. I would guess the next play is EDC to S&P 1140ish . . . but until technicals indicate the turn has HAPPENED, I will not hold either EDC or EDZ overnight. I may miss some big gains but we are bottoming, and the zig zag at the bottom is simply not worth a hold in either direction.

        If I err . . I err to the side of being conservative. I will not risk those HUGE EDZ gains on thinking where the market SHOULD go . . . because it is a flip of the coin either way. But be careful holding EDZ OR EDC in the next week or two until the next trend becomes evident.

        Good luck to all on this board!

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