Correction coming? See inverses UVXY TZA SQQQ

Nine_Ender said:
...Basically I can't see a 1000-1500 point drop in an environment with 6% GDP growth and strong corporate earnings, without a massive negative fundamental catalyst either real or perceived...
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And that is exactly what we have going into Dec 5th's deadline, my friend. A perceived collapse of the global financial system.

The markets do not like uncertainty, and especially do not like 1st-time shocks. COVID was a first-time shock in living memory. A US debt default would be first-time-ever shock in any lifetime. Markets will not like it!
 
Took stop losses earlier in the week, but at least I made some back trading uvxy end-of-day bounces, and had a green day today so that's something. Seriously, take a look at the end of day pivots in both UVXY and TZA today, they're very common repeatable patterns that I like to trade. Plus I successfully traded off lod UVXY pivot starting 17.62. :D

Also doing a lot of long day trading breakouts like AMC etc, better time for day trading then swing trading. Though I like KOLD and YINN for swings. Tough week, thought it would be red vs green.
 
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You can either worry about what might happen or just trust your read of the markets.


Overnight said:
And that is exactly what we have going into Dec 5th's deadline, my friend. A perceived collapse of the global financial system.

The markets do not like uncertainty, and especially do not like 1st-time shocks. COVID was a first-time shock in living memory. A US debt default would be first-time-ever shock in any lifetime. Markets will not like it!
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Glad you made hay out of it -- why did you think the week would be down, though?

KCalhoun said:
Took stop losses earlier in the week, but at least I made some back trading uvxy end-of-day bounces, and had a green day today so that's something. Seriously, take a look at the end of day pivots in both UVXY and TZA today, they're very common repeatable patterns that I like to trade. Plus I successfully traded off lod UVXY pivot . :D

Also doing a lot of long day trading breakouts like AMC etc, better time for day trading then swing trading. Though I like KOLD and YINN for swings. Tough week, thought it would be red vs green.
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formikatrading said:
Glad you made hay out of it -- why did you think the week would be down, though?
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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

spx15oct.jpg
 
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(no re momo indicators, i used to use ADX alot tho)

here's eod UVXY TZA. great runs, nice no-volume closeup charts. very common pattern :D

btw HUGE thx to whoever said to try no-volume charts, strategic-level improvement. i def trade better. that tip alone makes being here a big value-add... et rox

uvxy15oct.jpg
tza15oct.jpg
 
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KCalhoun said:
(no re momo indicators, i used to use ADX alot tho)

here's eod UVXY TZA. great runs, nice no-volume closeup charts. very common pattern :D

btw HUGE thx to whoever said to try no-volume charts, strategic-level improvement. i def trade better. that tip alone makes being here a big value-add... et rox

View attachment 269483 View attachment 269484
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No volume makes for a cleaner chart;
but i've used volume to much to change/LOL. TZA + TWM are up again@ area where i cut a loss on them LOL.:D:D
But i like TQQQ+ UPRO better.
May or may not get back in TZA+ TWM\ but late OCT can be bullish for small caps.
SEPT did have a good run for inverse ETFs.....................................................
 
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