- we are still hugging that up sloping trend line off the 2 recent lows made in early February and early March.(blue line)
- we also have broken up through a descending trend line from the interim highs made this month at $94.5 and 93.5 (green line) and are back filling and kissing it from above. (smallish double bottom?)
Will da boyz take it all the way down to test the 50 day(not shown on chart but resides at $90.67 and shake everyone out?
What I do know is I like fading all the consensus doom and gloom surrounded federal debt paper. As much as I want to to add a 2nd unit long I shall be patient and wait till a move back up through $91.60
On Monday I was stopped out of my 1 unit FCX short position at $56.35 for a break even trade.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $96.70
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $98.25
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit i-shares 20yr bond ticker TLT @ $91.63 stop @ $90.89
Short 1 unit Darden ticker DRI @ $49.51 stop @ $49.71