SOLD -35 TNA @27.33

My stop for TNA triggered. I bought this position for $23.68. It was definitely a great entry. Now let’s see if this exit is good too or not. I’ll consider re-entering near the close if it goes above $28. $28 is definitely a resistance for TNA in the short term. However, I am leaning towards entering some real stocks instead if the market proves ready for a good rally.

3X Small Cap Bull ETF

BOUGHT +35 TNA @23.68

820 on the S&P 500 seem like a good support. Notice in Figure 1 that we have tested it on slightly higher TICK and even Advance-Decline line. That’s a positive intraday divergence right there. So I’ve entered a short term trade using TNA (3X Small Caps) since its chart look relatively good too. I have placed a hard stop at $22.50 to limit my loss if this bet is wrong. My target is $35.

S&P 500 intraday

3X Small Caps ETF

I considered entering into FAS (3X Financials) for a bounce. FAS actually look better for a bigger bounce on the chart. But I just don’t have the audacity to go long with the financials at this time.

3X Financials ETF