ETF Trading Research 1/10/2019

Today we had a great start with UGAZ and took over 9% from it but the rest of the day UGAZ wanted nothing to do with moving higher, even though the data came out nice and positive with a bigger draw than expected. I will give it another day to prove itself.

We leaned long the market for the most part today to /ES 2600 and we got to 2599.50 here after hours so far, so getting close to start looking short. As such, the move up in JNUG today was enough to trigger a long and if we are going to move down in the market at the 2620 level or so in /ES, then JNUG will be a good profit potential for a bit, possibly to gold 1300/1315 range.

We only have two green weeklies and we traded one of them, LABU for decent profit today using the system I introduced yesterday. Tomorrow we are using that system with JNUG.

We should keep one eye on DWT and DRIP tomorrow too. If the market is going to take a leg down, these two will offer a good rebound opportunity. We did profit from UWT today and had a decent day overall.

I like the system I am working now as I am finally using it in conjunction with everything else. I know I can improve on a couple areas, like taking more profit in UGAZ today when the charts tell me to sell, so room for improvement. But I am not going to complain with the trading so far this year. I expect it to continue and even we’ll continually make calls on some day trades while looking for some home runs and taking profit. I know with the introduction of this new aspect to buy the open on some of these could have played out better if I implemented it earlier, so I am excited to use it more moving forward.

GBTC got hit hard today. The closer to 4 the more attractive it is. Just making passing comments until we can possibly trade it again. It had a low of 4.16 today.

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