Correction coming? See inverses UVXY TZA SQQQ

[KCalhoun]

Oddly, TZA has been consistently better to daytrade than UVXY this past week. Usually Russell/small cap weakness is a lead indicator for broad market selling.

I am keen to aggressively swing trade KOLD/short nat gas if it keeps going up..... ditto SCO/short crude at 2day highs.

 

[Nine_Ender]

The trend from September has been down off ath testing 100SMA

but these last 2 days broke the trend. still wouldn't surprise me to see selloff next week. unpredictable

Actually a sell off of any size should surprise you I'm not sure why all the bullish news that occurred this week hasn't registered with you yet. I'm not going to go into the details but it suffices to say that Thursday morning premarket it was clear the fundamental story was turning bullish and any chances of a correction in 2021 took a massive hit. I could also talk about what Oil and Copper prices say about the strength of the economy the next 4-6 months, or the world economic forecasts. Objectively the odds of new ATHs this week on some NA indexes are higher then the chances of a sell off of any size ( of course the TSX doesn't require much at all to get there it never really dropped in September ).

Since this thread was created :

UVXY -41%, TZA -12.6%. SQQQ -12.8%. ( 1 year -89%, -73%, -63% ) .

Now if you somehow made money fighting that current well imagine the money you'd have made trading the bullish versions of those etfs.

 

[Nine_Ender]

Oddly, TZA has been consistently better to daytrade than UVXY this past week. Usually Russell/small cap weakness is a lead indicator for broad market selling.

I am keen to aggressively swing trade KOLD/short nat gas if it keeps going up..... ditto SCO/short crude at 2day highs.

My guess on WTI is at a minimum it'll test $84.50-$85.

 

[KCalhoun]

Actually a sell off of any size should surprise you I'm not sure why all the bullish news that occurred this week hasn't registered with you yet. I'm not going to go into the details but it suffices to say that Thursday morning premarket it was clear the fundamental story was turning bullish and any chances of a correction in 2021 took a massive hit. I could also talk about what Oil and Copper prices say about the strength of the economy the next 4-6 months, or the world economic forecasts. Objectively the odds of new ATHs this week on some NA indexes are higher then the chances of a sell off of any size ( of course the TSX doesn't require much at all to get there it never really dropped in September ).

Since this thread was created :

UVXY -41%, TZA -12.6%. SQQQ -12.8%. ( 1 year -89%, -73%, -63% ) .

Now if you somehow made money fighting that current well imagine the money you'd have made trading the bullish versions of those etfs.

Good point, SVXY TQQQ gained. Daytrading inverses definitely better than swings eg I was profitable trading UVXY yesterday off 17.6 low.

Crude and natural gas prices extended so I'm trading SCO KOLD.

 

[formikatrading]

Good post.

Actually a sell off of any size should surprise you I'm not sure why all the bullish news that occurred this week hasn't registered with you yet. I'm not going to go into the details but it suffices to say that Thursday morning premarket it was clear the fundamental story was turning bullish and any chances of a correction in 2021 took a massive hit. I could also talk about what Oil and Copper prices say about the strength of the economy the next 4-6 months, or the world economic forecasts. Objectively the odds of new ATHs this week on some NA indexes are higher then the chances of a sell off of any size ( of course the TSX doesn't require much at all to get there it never really dropped in September ).

Since this thread was created :

UVXY -41%, TZA -12.6%. SQQQ -12.8%. ( 1 year -89%, -73%, -63% ) .

Now if you somehow made money fighting that current well imagine the money you'd have made trading the bullish versions of those etfs.

 

[KCalhoun]

And yet I'm right again. Dow futs red today as expected. Though just a bit, -120 at 6:35am ET; could flip green later.

Will scale into inverses UVXY TZA KOLD if they run.

 

[KCalhoun]

KOLD UVXY my fave swing picks (not a reco)

 

[Nine_Ender]

And yet I'm right again. Dow futs red today as expected. Though just a bit, -120 at 6:35am ET; could flip green later.

Will scale into inverses UVXY TZA KOLD if they run.

The TSX set a new ATH today.

 

[KCalhoun]

Right.... it's volatile times. KOLD was good

 

[Nine_Ender]

Objectively the odds of new ATHs this week on some NA indexes are higher then the chances of a sell off of any size ( of course the TSX doesn't require much at all to get there it never really dropped in September ).

Mission accomplished.