I came in this morning short 2% DJ futures, short 1% gold futures, long 2% QID, long 4% DXD, long 6% SDS, long 5% UUP, long 2% ZSL, long 2% SCO.
I covered 1% DJ futures 11,065.
SP futures broke their 30-minute M/A but I am short enough with all of the double-short ETFs. Waiting for DJI 10,993 as break of critical support.
I1 bottoms either today (preferable) or tomorrow (a double-bottom slightly higher than today).
If critical support is broken then I'll hold short stocks.
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Good morning, Steve.
ReplyDeleteI currently have 11129 as the 370 EMA value on DJX 5 min chart. 11129 - (1.35% * 11129) = 10978. So that's where I would calculate the DJX support for 30 min close. However, you using a value of 10993? Why the difference?
Steve, I saw this in the comments on another blog and thought you would appreciate:
ReplyDelete"Market rallies because my neighbors parrot learned to spell the word POMO."