ETF Trading Research 5/9/2019
New shorts on the nightly report with the overnight and morning downturn, but we took the other side with the tariff issues to be resolved soon.
That said, didn’t want to take the overnight risk so went home flat except for UGAZ which looks poised for a move here.
/ES moved to a low of 2836.25 and I said somewhere near the bottom that holding half and getting the other half lower would be a good trade and we did buy half and had a nice run, sold out for good profit, and bought back more lower a few times.
Because so many are now weekly green and no sells, had to go home flat and just scalp.
Tomorrow is an unknown, but the master negotiator should pull a rabbit out of his hat as one subscriber said, and we did expect that today and got a Tweet from The Donald to help our trades.
We are trying to make trading fun again and doing better with the nickel and dime approach. I do like to have more than a few going as some will take off and some will lag.
Trying to stick with those that are stronger and sell weaker ones. We had many that had nice moves off the lows today.
BRZU though is not cooperating. UWT did not go positive. TMF still positive. Need those 3 to reverse for bulls to get a bigger run. If so, 2900 next.
Lean long tomorrow.
No metals or miners right now. But I would trade long based on tonight’s data if we do get JNUG to open higher. But that’s the only reason. Gold and miners may fall with a continued market bounce.