Wednesday, March 26, 2014

Closing SRTY (3x short IWM) Trading Position

The Q's are improving, it's as if they needed this downside move to get it together, the IWM is not where I would want it to buy URTY 93x long IWM) or the call position yet, but I'll be glad to take the SRTY gains off the table based on the QQQ improvement alone, ironic that it was the poor QQQ readings that kept me from entering any long positions earlier and now they are the reason I may very well open some as I at least close SRTY for now in the trading tracking portfolio.
SRTY and about a +12% gain in the trading portfolio.


Look at the Q's intraday improve...

QQQ 2 min leading now as 3C held up well vs the price decline.

The troublesome 3 min chart earlier is now looking interesting.

Even out to 5 mins we have a relative positive, that's quite a change in a short period.

As for the IWM...

The 1 min is making some head way, but this likely needs a little more sideways/reversal process and sharper positive divegrences, then it may make for a good call / add to position and / or a URTY long (3x long IWM) or UWM 2x long IWM.

 The 2 min held up pretty well so it seems there wasn't as much distribution as price would suggest which means it was likely an accumulation move on the decline.

Until this 3 min chart is screaming buy, I'm going to hold on doing anything here, just be patient and wait for the probabilities to stack up until it has the kind of divegrences I don't walk away from

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