ETF Trading Research 5/23/2019
Markets took off south before we could jump on some shorts today, but the newly annointed DWT and DRIP (with UWT and GUSH going to sells), did take off higher. We are in GUSH for a reversal a couple times now and current trade up over 1% after hours. TVIX took off higher but I didn’t trust it as much today and it is 80 cents off its highs after hours. I do like the fact we can buy it lower possibly in the near future.
We started off great with USLV and JNUG/NUGT today, but the second buy took that away. We did the right thing in selling I think but JDST never became a sell to give us complete clearance on the opposite side. It may still and we may attempt longs again.
UGAZ looks good and we already scalped some profit from it too.
Markets should move up Friday, barring any Chinese comments, and 2800 is a decent support area that should hold overnight. 2850 is first target if we can break 2835. Can even push up to 2900 again.
But another shorting opportunity will come.
Not easy to trade up and down markets, but with patience and support levels, I think we can do ok.