Arena Pharmaceuticals (ARNA) Message Board

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Biotech / Medical : Arena Pharmaceuticals (ARNA)

ARNA 99.99

0.0%

Mar 15 5:00 PM EST

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To: wolfgangrene who wrote (2016)	12/3/2013 4:05:12 PM
From: The Ox	Read Replies (1) of 2274

I watch VXX/XIV which also helps to give signals and to help gauge if support/resistance levels are holding or breaking. Above 48 on the VXX was resistance and, sure enough, VXX went there twice before taking a breather. The second failed attempt to bust above coincided with the SPY bounce up. EDIT - each time it got above 48, it made a lower high, another solid indicator that it may not be ready to go any higher! Taking a position in XIV at that point (or shorting VXX) is a good risk/reward setup. If it goes against you, you'll know quickly and time to dump the position for a small loss.

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