Today we look at FAZ as it presents a lot of great set-ups both on the swing trade level and the intra day trade level. With a massive triangle and a channel, it seems like you can get yourself some very nice scalps in the next few days. In relation to the financials, we are looking at the H&S formation on the XLF which could break down and form a very strong downside potential. We look at the SPY and show that there is still indecision and that we can still get a pop up to the 50% retracement before we see this rally consolidate a little bit. And finally look at the Dow and MELI, which both give us clearer signals!
Duration : 0:5:1
[youtube WRj2F21lhoo]
March 29th, 2010 at 1:26 pm
Usually no more …
Usually no more than 15 cents… and as soon as i have a 7-10 cent profit, i’ll put my stop up so that i’m making money no matter what.
March 29th, 2010 at 1:26 pm
HI, can I ask, what …
HI, can I ask, what % stops do you use on the 3x loony stocks?
The ‘dirty faz’ as I often call it, is usually more trouble than its worth, but a move to the mid 20s seems quite possible in this new down cycle.
Good wishes