jrbikes
624 posts
msg #93970
- Ignore jrbikes |
6/17/2010 2:24:54 PM
RUT is running into overhead resistance on the weekly chart, it is at the 10 period MA on the weekly, yeah, you may get a bounce of some sorts, but I sure wouldn't be loading up right now, I think next week is another up week, if it can hold above the 640 level for today and tommorrow! 647 to be exact! you can't predict where the market is going, only react! it is so indecisive now, you would have to be a Mesiah to predict it, oops, did I say that!
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mesayah
658 posts
msg #93984
- Ignore mesayah |
6/17/2010 6:00:29 PM
TZA may have a big move friday.
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Kevin_in_GA
4,599 posts
msg #93986
- Ignore Kevin_in_GA |
6/17/2010 6:29:54 PM
Not disagreeing - in fact I was saved by the PPT hockey stick at 3:30 PM today.
Historically tomorrow is an up day, but the week after June triple witching has been down the last 10 years, and 17 of the last 19.
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straken
469 posts
msg #93991
- Ignore straken |
6/17/2010 11:00:00 PM
Kevin,
If your having a losing battle learning options, give this a try.
select one range bound volitile stock like CMC has been and try trading it almost daily.
Lately I've been buying calls around 14.50 ish selling them around 15.76 and buying puts to ride it back down.
I mostly daytrade options on volitility moves intraday, but that is for the seasoned trader, but win or lose on an option trade directionals should not be held longer than a few days unless your in a position with very little theta decay and some momenum going your way.
Look for the higher beta stocks to play in a volitile environment.
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Kevin_in_GA
4,599 posts
msg #94003
- Ignore Kevin_in_GA |
6/18/2010 8:51:53 AM
My quick analysis of the $RUT (the underlying index for TNA/TZA).
$RUT closed yesterday at 665.85 (it is sitting on the MA(100) right now).
Daily and weekly charts show resistance at the following points:
669.5 - weekly MA(200)
670 - round number resistance, plus it has tried several times recently to breach this level and failed
677 - 50% Fib retracement from the recent low/high
678 - weekly MA(10)
684 - MA(50)
If $RUT can break and hold above 670 (a 1% gain) or better yet 677 (a 2% gain) these levels shift from resistance to support. Short term gain of 1-2% would put TNA at 49-50 range, and TZA at 6.20 - 6.00 range.
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jrbikes
624 posts
msg #94009
- Ignore jrbikes |
6/18/2010 10:29:13 AM
Got me another monitor, now I can watch the market and run my mouth on SF at the same time
BBVA RIG CDE watch and wait!
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mesayah
658 posts
msg #94010
- Ignore mesayah |
6/18/2010 10:31:43 AM
Market will tank now...
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johnpaulca
12,036 posts
msg #94013
- Ignore johnpaulca |
6/18/2010 10:33:12 AM
JR...did you buy a 28", they are pretty cheap now. I connected my laptop to a 60" T.V, biggest chart I ever saw
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johnpaulca
12,036 posts
msg #94014
- Ignore johnpaulca |
6/18/2010 10:34:11 AM
How much you wanna bet ???
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jrbikes
624 posts
msg #94029
- Ignore jrbikes |
6/18/2010 1:15:55 PM
No, I bought a 20 HP, its nice, I wanted to get a TV, but I didn't want to spend that money, I only paid 149 for the monitor, but it is nice, and anyway, I have limited space, I live in a garage, so this was just practical for now!
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