Pascal
12-18-2014, 05:26 AM
The Russell is bouncing hard overnight.
I therefore tested a possible short TNA trade as TNA is extended above its 5MA.
27519
TNA has had a lot of reversals this year. Not a stable B/H
27521
We can see that yesterday, we closed at the top of the envelope. This is not the best place to buy!
With the overnight buying, TNA is expected to open at $77 or higher.
27522
So, let's test shorting at that level.
We can see that a short at between $76.5 and $77.5 looks interesting for the next few days, but you would have the market momentum against you.
At least, I would not advise to buy here.
27523
27524
I therefore tested a possible short TNA trade as TNA is extended above its 5MA.
27519
TNA has had a lot of reversals this year. Not a stable B/H
27521
We can see that yesterday, we closed at the top of the envelope. This is not the best place to buy!
With the overnight buying, TNA is expected to open at $77 or higher.
27522
So, let's test shorting at that level.
We can see that a short at between $76.5 and $77.5 looks interesting for the next few days, but you would have the market momentum against you.
At least, I would not advise to buy here.
27523
27524