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Direxion Daily Small Cap Bull 3X ETF Message Board

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  • lusob09 Sep 6, 2012 2:37 PM Flag

    Just sold a paltry 90 shares of TNA at 61.67

    Your good, you have skills. Next time post your buys real time, Its more inspiring for all the

    chicken littles and clueless.

    I blew it, I did not have enough ammo yesterday to buy this obvious buying opportunity. With

    Euro bonds being bought, everyone who knows how to trade knew the market can only go up.

    With the big gap up this morning, it was too late to chase the rally. So I did the only

    irresponsible thing to do: I gambled and bought TZA at $15.60, $15.44, $15,14 and $14.96 for the
    eventual pullback. All I'm looking for is a $1 dip before tommorrow.

    Sentiment: Strong Buy

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    • Likely sometime tomorrow or Friday at the latest.

    • I am only swing trading the TNA I bought 31 August in my IRA. My cash day trading account was restricted until this morning #$%$ "exchange trading rules") but I (wrongly) perceived as too late to go long TNA on the big market opening gap up; who knew then for sure TNA would explode up more than 6.5% in price? About 80% of "gap ups" (or gap downs") fill on the day they are generated so I had to respect that). Today was one of those rare 20% no gap fill days (something to watch out for in the near future; the next week or so).

      I also faded this rally with TZA hoping for a retracement soon, tomorrow, Friday? (and another chance to get more TNA at a lower price too). Amazing we haven't even seen a single 23.6% Retracement on the daily chart yet today, let alone one down to FIB 38.2%. Pretty strong rally with more to come I believe, but first hopin for at least a 38.2% or 50% fib retracement.

      GL to ya!

74.1815-0.3385(-0.45%)2:03 PMEDT