ETF Trading Research 1/3/2019

Only one change to the trend below and that is SQQQ going green on the weekly once again. We only have real strength in precious metals which is still acting as a good safe haven as the market falls but that will reverse here soon. I thought it would today but maybe tomorrow.

We ended up positive today with the trades overall and sold UGAZ end of day to lock in profit but took a chance with it now that it is 4 days in the Cold Corner for a bounce tomorrow. Prefer to have that bounce in the morning before data comes out so we’ll see if there is an opportunity to get out with profit then. 4 days in the Cold Corner is very rare so breaking the rules of holding overnight as we are dealing with profit from today overall with the 2 trades we made of over 6%.

UWT is looking good for a run with GUSH here now too and any buying in this market should get it going.

SOXL was the loser of the day and SOXS the winner, but not enough to get SOXS green on the weekly again. Because TVIX went red on the weekly I had to lean long today instead of with TVIX but the trade in TVIX I missed and will see what tomorrow brings to take either side here. Market has a bearish tone still despite only the one new green weekly.

My goal each day is to be profitable and will work hard towards that goal. Tighter stops are key and taking profit when given in choppy markets are the call for now.