TRADE: SWING FAZ at 20.44 stop 18.96

Trade:  Swing... bought FAZ at 20.44. Stop 18.96 for now. faz could test 20.30, even break and go lower, but i'm fine with this for now.

5:02PM update:
Part of the reason for the entry on Friday was that the ES futures, pre-market, hit 1067, but recovered higher before Friday's open. So the 1067 is vulnerable to a re-test, although of course prices could move higher first. A look at the SPX will not show such a severe break of 1085, since it held in the SPX. But in the ES, that 1083 was broken and dropped to 1067 before recovering.

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I have added another swing trade to my previous ones (still open).

On Friday's Daily Ramblings post, I noted that I entered FAZ at 20.44 stop 18.96 for now. Am putting it in a separate post here to make it easier for me to track.

Trade:  Swing... bought FAZ at 20.44. Stop 18.96 for now. faz could test 20.30, even break and go lower, but i'm fine with this for now.

Is the FAZ an early entry? Will Monday's prices rally (causing FAZ to drop)? I don't know, but the charts are suggesting lower SPX and higher FAZ in the coming days ahead. Unless the charts change, any SPX rally is an opportunity to re-short or add to shorts. Charts suggest that Monday could go either way, so I've entered here in order to participate.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".