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Due to the high intraday volatility of yesterday and the fact that yesterday's close was near the previous day's close, the entry prices of leveraged ETFs are "off the mark" because they are calculated on the respective volatility of each instrument compared to IWM.
Therefore, traders should preferably enter the short positions on the leveraged ETFs when the IWM signal is triggered, which is basically now.
Pascal
I was day trading TNA from the opening while keeping an eye on IWM 70.81. The closer that number came, the more difficult the price action in TNA. Of course, there was one news item, which once again proved a good manipulation play.
The difficulty of taking the TZA position "basically now" is that the market internals remain bullish. But, the faithful march on!
[QUOTE=nickola.pazderic;16466]I was day trading TNA from the opening while keeping an eye on IWM 70.81. The closer that number came, the more difficult the price action in TNA. Of course, there was one news item, which once again proved a good manipulation play.
The difficulty of taking the TZA position "basically now" is that the market internals remain bullish. But, the faithful march on![/QUOTE]
My message was only intended for those who want to trade the robot signals.
This was not an opinion on the state of the market.
We could or could not have better prices tomorrow.
Pascal
Pascal do you suggest waiting until this level is hit before going long, or is the idea to go long when the 70.81 is hit on IWM?
[QUOTE=jgt2004;16468]Pascal do you suggest waiting until this level is hit before taking a long signal, or is the idea to go long when the 71.08 is hit on IWM?[/QUOTE]
The short trade is already entered at the short limit of 70.81!
You should have gone long TZA simultaneously.
Billy
Thank You, and apologies for entering the wrong trigger level I am working from a very small laptop.
Pascal--
I appreciate your heads up. My point was to note the price action of TNA before IWM 70.81 and to write with some levity at my/our resolve.
Thanks,