ETF Trading Research 5/7/2019
Today market makers had their way with bulls and I bought into the expected decline too early for half shares each time and was knocked out at 2880 break or just thereafter. But I wasn’t afraid to buy back again and now I think we having reached 2890 again in /ES after hours, can be well on our way to 2950 by next week. But with any trade agreement can come earlier.
Watch SVXY in particular for a nice move up if that’s the case. Can be a little volatile still overnight and into the open, but we should start trending higher throughout the day.
Meanwhile once again we called miners good and got 6.62% from JNUG and NUGT and 14.47% from the 5 miners. If we were going to move up, I didn’t want to risk the overnight hold as these could be false signals, so took the profit. Also, to alleviate some of the other hits on long the market ETFs.
I didn’t officially call the hedge in TVIX, but did guide some to profit on shares there. Yes, market did go more than I thought it would. Yesterday TVIX wasn’t even on my radar as I thought we had bottomed and we got decent profit going long. Then after hours someone made a comment and killed everything. I had the opportunity to sell after hours and thought about it, and even go long TVIX then. Instead, I stuck with the bull theme which I think still runs higher to 3000 plus. See if we can’t get things set up for the bigger fall and the 100%+ return in |TVIX when we break 3000 and go short up there somewhere. Best odds lie up there for TVIX. But hate missing it for sure. Hopefully the miners trades made up for some of it. And SVXY moving forward into the 15th.
LABU in particular hit hard today. It and SOXL, TQQQ and especially GUSH look for a rebound tomorrow.
Will monitor metals and may try a trade again if I get more signals. JDST and DUST were sells today and same with DSLV. So we have to keep the longs on the radar now. Watch that dollar if it breaks 97.40.
No change in DGAZ but UGAZ did try today a little. Nothing to go after though.
Watch BRZU and UWT tomorrow and if they open higher, then the bull train should be in gear. Will also have to have CNBC or your favorite business channel on as well for any White House news now through Friday announcement day.
TMV should move up with markets as my final thought and gold and miners did move down after we sold with the end of day market rebound. So even with these signals today, I would be cautious long.