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Strategies & Market Trends : TRADING TNA and TZA ONLY
TNA 46.72+1.7%Oct 31 5:00 PM EST
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To: Hawkmoon who wrote (7)10/7/2014 11:19:55 AM
From: Fintas   of 58
 
When I use the term bounce... I could use it for a stock in decline and on the way down. While that is happening, traders come in trying to put in the bottom but the buying doesn't last and the selling continues. POG is a great example of traders TRYING to find the bottom and failing. Yup this latest bounce in the POG will fail.

My work re TNA as I presented yesterday considers a bounce but that bounce isn't going to new highs.

That bounce is just that. A bounce and will fail and continue down. Some do not like the work bounce. OK near term rally.

I presented TNA can drop 30% and I'll stick with that number. That can be supported by the RSI and pnf pattern.

The play for me would be the TZA where it has been in a bit of decline which is usual for a stock or other working it's way UP and seeing profit taking. Thus the closer to the 15 area for Tza the better for the move back up and I stand with the upside has a lot of room.

I'll throw this in.

Given one of those etfs is bearish and the other bullish.

My overall work supports a DOW/RUT/SPX/NASD/IWM/SOX LOWER so that would also support the ETF that suggests LOWER.

I'd be using the 1.62 box for TNA. And a 4.86 as controlling.

If one does so they can see the upside and downside.

Fintas
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