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Paul Mosgovoy
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Truth is timeless: “Markets never change” – Jesse Livermore, 1923 The early masters, Livermore, Wyckoff and Loeb isolated themselves from the crowd and crowd thinking. None of them ever graduated high-school and yet they each became legends in the market. Their techniques have been time-tested.... More
  • IWM (TZA) Analysis: 11/4/13 0 comments
    Nov 4, 2013 7:17 PM | about stocks: TZA

    Friday's report indicated that as a result of the heavy volume at support, the iShares Russell 2000 ETF (NYSEARCA:IWM), may move higher instead of breaking lower as anticipated

    Conversely the Direxion Russell 2000 Bearish 3X ETF (NYSEARCA:TZA), would proceed lower instead of higher.

    After it became apparent during today's session that the buying pressure in IWM was greater than the selling, we made our exit.

    This exit was executed before our established stop in TZA was hit. The original stop location (at 20.23) was contacted later in the session.

    If we can determine that the trade is not going to cooperate and still get out even or with a profit, then we are pleased with the execution.

    The following weekly and daily charts of IWM show the technical condition of the index:

    (click to enlarge)IWM Weekly

    Charts by StockCharts.com

    (click to enlarge)IWM Daily

    Charts by StockCharts.com

    We have no position in IWM at this time.

    Disclaimer:

    This report is for discussion purposes and contains our opinions only. This posting is to publicly document our thinking and market analysis actions within the Three Ten Trading entity. The data was obtained from sources believed to be reliable. However, we make no guarantee as to the accuracy of that data.

    Investing or trading in equities, futures or options may result in a significant loss of capital, total loss of capital or a loss greater than available capital.

    We are not advocating any stock or in any way offering portfolio management advice or stock selection service.

    Respectfully,

    Paul Mosgovoy, President: Three Ten Trading, LLC

    Thank you for reading.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: TZA
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