Being a bull lasted the day, but at the end of the day I decided to go with TVIX 1/2 shares as my system of a leveraged ETF in the Cold Corner for 3 days or more has worked well for us historically. Today we got to 4 with TVIX and I had to use that as a means to take the chance. Turns out, so far, it is paying off for us. While some of you may have scalped this after hours, and that’s just fine, especially if you lost some the last couple days, I think we can get to 46 first, then a little stall and then shoot up to 55 with any momentum. I will look to add SQQQ, SOXS, LABD, SDOW on any moves up at this point. We’ll see what China says/does in retaliation. CNBC had no headlines on the news and said nothing on TV and I had to go to Zerohedge to find out why futures were falling.

RUSS looks like a good bet for tomorrow. 3 days in cold corner and down again today. Due for a bounce. Could have went 1/2 shares today.

With markets moving lower, DRIP and DWT should be on our radar to buy tomorrow.

I deserve punishment in trading against a green weekly with UGAZ, but thought we had support. We are however oversold now and due for a bounce over 2.80 to 2.86 possibly. After that, then we can head to break that 2.60 level which I haven’t forgotten about and shouldn’t have forgotten about it turns out.

We got in JNUG and NUGT lower. We’ll see if we can finally break loose now and let metals rise and dollar tumble. Below 94 is key for dollar. NUGT finished the day up and the rest lower.

I know I have said this many times but it is worth repeating; If you stick with the green weekly trades your odds of profit increase as there is more risk with the day trades. I call the day trades with the intent of catching some runners, so will get a few 1% stop outs but eventually catch the 5% to 10% or more runners.  The important part of the list below is that the longer the ETF stays on the list the more likely it is to turn red on the weekly and the opposite ETF comes into play as a long. This will be tracked more when we automate the service.

Sell half shares on a spike up on any ETF you are long, even if goal is higher. Spikes higher are almost always followed by moves in the opposite direction. Try and get out with a market order quickly before the quick move back lower. Lock in that profit!

New way to trade beaten down ETFs; The way that trade would work, and I really think it should be a rule from now on NOT to trade anything trending down until it reverses, is we would buy at the open if it is POSITIVE or GOES POSITIVE during the day. Then we would look to profit on 1/2 shares over and over, day after day until we get the red weekly signal on the opposite trade that could turn into bigger profits. The stop would be if it goes negative for the day. The rule of keeping a stop if it goes negative for the day is a must. Lastly for this type of trading we need to not be afraid to get back in if it goes positive once again. Sometimes market makers will take an ETF negative and then reverse it right higher again because they know if it goes negative many exit. So we have to be willing to risk a few in and outs when it does this up and down move around that potential stop out area so we don’t miss the ride back up. That’s just part of trading and not a big deal. But no matter what, if it breaks to yet another lower low because you didn’t get out after giving it a little more wiggle room, you are more than likely further from the original stop out when it went negative and you are out, waiting for it to go positive again before you get back in. You are simply buying into strength.

For those of you new here, I most of the time have the ETF Trading Research report out by 8PM PDT, and it comes by an RSS feed, but you can look at the report here sometimes before you get it in your mailbox; https://illusionsofwealth.com/category/etf-blogs/  This is also the same link if there are any technical difficulties.