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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (15784)4/10/2014 2:31:39 PM
From: Hawkmoon  Read Replies (2) of 33421
 
like the purchase of TZA.......
Yeah.. it's my biggest position right now. With more cash available after I see it hit $21..

If we compare the monthly charts of TNA, or IWM, to TZA, we see some serious upside for TZA..

TNA's 20 Month MA is at $55. And that STILL keeps the uptrend in place. Theoretically it could retreat to $40 and NOT break the uptrend in the Russell 2000.. That's how overbought it currently is..

bigcharts.marketwatch.com

So what would a TNA retreat to $55 do to TZA? It SHOULD take it up to at least $35..

bigcharts.marketwatch.com

Hawk
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