Good luck 14U!
Thanks Tom!
As mentioned in other posts my current position is in TZA. 5dyma above 20dyma so will be holding. MACD is just crossing the 0 line to the upside so there is plenty of room to run. Slow Sto and CCI20 overbought but I think they may stay that way for a while. I still think this market is prone to a major sell off with supports getting broken in various indexes.
Showing 13.7% profit in TZA so sold 13.7% of my shares to protect it.
For those interested in a long possibility, check IBB (BioTech I-Shares). It has been a leader lately.
Current price $70.02
Recent high 75.00
Lower Bollinger Band $68.38
If the market holds up next week, IBB could move back up.
Have limit orders in to Buy some TZA @ 68.08 or sell some at 77.00. If 77.00 triggers I will be selling more higher up at 80.20. (5% sells and buys).
$77.00 executed (Sell). Advanced Buy to $73.15. What I'm doing is buying some shares 5% below 77.00 and selling some shares 5% above 77.00. I will be selling some at $80.25 as well. So if the price advances 5% from 77 to 80.25 I sell 5% of my shares. If the price declines 5% to 73.15 I buy 5% more shares. So its basically a money machine providing the trend remains up which it should with the 5dy ma above the 20dyma.
TZA is a 3x bear instrument on the Russell2000.
Yes, Lady, a simple concept which can be modified very easily depending on where u are in the uptrend.
Now just to add a little complexity to the system.
Suppose the MACD is getting high and the Slo Sto is "embedded". Well what you could do is start easing out of your position by selling more than 5% (say 10% or 15%) when the stock is up 5% and forego any new purchases. Just food for thought. This seems to be the case of TZA (3xBear-Russell2000). So tomorrow I just may start selling more than 5% and forego buying any shares since the MACD is now above the 0 line. Good Luck everyone trading!
Well, I sold out TZA at 75.51, still made 17.3% so I'm okay with that. Today I bought some SSO (S&P500) and GLL (Gold shorting instrument). Target on S&P 800-810, Gold down to about $920. Not big bets as they are countertrend in nature.