ETF Trading Research 5/14/2019
Started out the day on the right side of the trade but got spooked and then started to fight the 2935 resistance area that didn’t hold. We topped out at 2953.25 area and now are 13 points lower after hours to 2940.25. The second Trump Tweeted about G20, I should have pulled the plug on shorts then. But I expect a bigger move down at some point tomorrow if it doesn’t occur overnight.
We stayed away from JNUG and I gave out DUST as a potential. It did move up today as JNUG broke below 7. Was going to call it but think miners can still fall more. We had a 19% turnaround from the highs in miners today at current prices. Let’s see if we get a push lower still to buy these back as I want to be long on dips that has worked well for us so far.
None of the ETFs we follow that are short the market turned to a sell so it gave us permission to buy the dip in them. Only TVIX turned to a sell on Friday and that didn’t work out well for Monday did it?
RUSS though did turn to a sell and had a good day.
DRIP turned to a sell but we bought it low enough where I think we can profit from it. Over 10.45 tomorrow should do it.
TVIX over 28 and 31 comes back into play. But let’s get over 27 first.
DWT I almost called at 6.01 but thought the 5 we are in were enough.
See what tomorrow brings. And what Trump Tweets.