Wednesday, February 2, 2011

Follow Up on MUB Trade entry

MUB was covered on January 26th, we were looking for an entry off the correction.

 Here's the long term down trend on a daily chart in MUB-(ETF for national municipal bonds)

 A closer look, this is the correction we were waiting for to end to enter a short position. The top red line can be used as a stop and the bottom red line can be used as an entry as a limit order (in your head).

 30 min 3C chart.

The trend channel is showing about the same stop-it has carried the entire downtrend.

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