I'm waiting to see what TZA does tomorrow before deciding to trade it as a swing. Today, I'll be calculating some potential upside and downside targets, as well as appropriate price to enter TZA (if an entry proves to be merited).
I think that the patterns in TZA are calling for a move that comes close to their recent highs or lows, depending on the direction of the break (bias is up for now, with possible move down first, then up). But I need to look at this some more.
I want to do some correlation analysis between Russell 2000, NDX, DOW, and SPX...to see how these might all influence the TZA. Especially because the DOW is close to such a very important number now.
I'll update this later with details.
Of course, anyone with ideas is free to post them by leaving a comment to this post.
* 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".
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