no i'm busy frying other fish like UCO, TWTR, SSO, NUGT many others.. clct is just a pet from a decade or so ago that turned out to be a long term jack pot so i go back to it once in awhile.. still have a small position but may not add unless i get bored with or bail out of the others.
All that matters to a TA kind of guy is that the MONTHLY lower Bollinger Band was pierced by 33%... only regret is i didn't have a low ball order at say 14 or even 17 which i had mentioned days ago if not weeks that could be tested...
9 times out of 10 when even a WEEKLY BBand is pierced there is a fierce reversal, let alone a MONTHLY... This is a HUGE BULLISH SIGNAL for things to come... and yes, news and earnings reports are only incidental so the human bean brain can comprehend TA as charts actually call the shots but the logical undeveloped humans that we are need a rational & reasonable reason for the TA levels to do what they do...
Not that i don't respect all the speculators and fundamentalists but i have no time nor patience for that BS/noise... GLTA
Other equities are making lows and more will before this correction is over... Expect CLCT to print around 17 before it's done maybe lower. If you can't stand the heat get out of the kitchen. Gold is about to tap out and will make new lows too imo.
And go long the VIX with VXX or leveraged etn for short term flips maybe 10% of the time at best. if you don't believe it compare the charts over weeks, months, years. don't be fooled by these short lived waves of fear... Just take profit off XIV at least some and buy back cheap once Wall St. starts breathing again. It has already happened this time around.
Now 5 red weeks the last 2 of which ripped South of the lower Bollinger Band. This alone usually causes a rally, combine with oversold indicators this would NOT be a time to short or be short but a time to add if your position is not full. No pain no gain.
appears to be hell bent to print 19.34 which would be a double bottom and likely technical bounce possible reversal. it's a sweet price now to enter but will likely get even sweeter.
19.50 down to 19.30 level showing next support. Of course the market that helped drive it down today will have it's say. a close above 20.10 Tues. would be bullish but i'm bullish anyway looking to add.
Next strong support is 19.34 area. best case scenario is a dip down there Tuesday and reversal. If not will report the next support level. OVER DONE! it will re-coup after the EO's selling.
Also a nice pierce below the Weekly Lower Bollinger Band (TA stuff) more often than not will cause a reversal (to the upside in this case)
Closed below the 100 WEEK moving average for the 1st time since 2013 but.... both daily and monthly TA indicators are screaming BUY! I just may add to a small position Tuesday. GL
May have been a good move as it bounced off support 2 off recent pivot which was the low of the day to the penny. That is a bullish indicator especially if EO's have stopped selling. GL
20.66 is a key level, loses it look for more selling into the 19's to test Dec. low possibly. So no bounce after pierce of 20.66 decision time me thinks.