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I too am following TNA/TZA, but my method and time frame are different than yours.
If your interested, this 10 min video explains the above chart and how to use it quite well; swing trading a Renko chart with the Ichimoku indicator combination.
So far so good hope every one made the money.
Seems like signal was to attract more to unload but some time tomorrow it could be more than the closing price of Friday.
Not so fast and it is not buy and hold stock as company says about it.
If trading TNA take profit with ATR daily.
It may seems not good Idea but in down markets it helps to collect coins.
I do think every one will consider their level of comfort and strength.
3X stocks are not meant to be buy and hold just remember.
Good luck and happy trading.
$35.00 to $55.00
A ways to go ...
Seems they want to Gap up and try to cover puts they wrote, Closing will be interesting. Market mange to close on Buy.
As of this writing TNA puts bought heavily,
June 5 Puts 29 Strike 23200
30 " 8260
31 " 2320
All for one day very Unusual never seen that much of volume in Puts.
Someone wants big insurance or expecting a big drop.
Yeah will be looking for a possible short this week. Thanks
Probably 10 to 12. So far program projecting up will change soon.
what is you target for TNA in the next 3-4 weeks. Lol., I had a dream where I saw TNA, and fire burning around it. TIA
Today's Trades in TNA.
BOT 1,000 TNA Stock 16.75 USD ISLAND 09:35:25 5.00 null
+ SLD 1,000 TNA Stock 17.15 USD ARCA 09:41:22 5.50 null
+ BOT 1,000 TNA Stock 16.71 USD ARCA 09:53:58 5.00 null
BOT 1,000 TNA Stock 16.01 USD ARCA 12:15:07 5.00 null
+ SLD 10 TNA APR 24 '20 18 Call Option 0.77 USD CBOE 12:39:53 OptTrader 7.48 null
+ BOT 5 TNA - APR 17 '20 + APR 24 '20 16 Call Calendar Spread 0.95 USD SMART 12:51:40 7.46 null
+ BOT 10 TNA APR 17 '20 18 Call Option 0.12 USD NASDAQOM + 1 13:10:15 OptTrader 10.54 null
+ BOT 5 TNA APR 24 '20 16 Call Option 1.65 USD CBOE 13:22:12 OptTrader 3.72 null
+ BOT 5 TNA APR 17 '20 17 Call Option 0.33 USD PHLX 13:50:10 OptTrader 3.72 null
It is now
So I am stopped out, it has no traction.
I would say long TNA @ 50.60. stop 50.35. target 51.68 for today.
My argument in favors of small cap in low interest environment they have better chance and mostly doing business in USA so out side forces will impact less.
Yes with overall market decline they can suffer also.
Well I bought back 56 @ 11 Cents and sold common at 56.15 so I did little leg work but came out OK. so I will be making 2.65 - 0.11 = 2.54 for 1.09 minus commission.
I did a risky trade in TNA today Buy 53.50 Calls @ 2.29 and sold 56 Calls @ 1.09 for net debit of 1.10 if stock close tomorrow above 56 I will make 1.41 per share. It is a small trade.
We may go up $2.50 in coming few days but our target seems to June Low or lower.
Keep your powder dry.
Liquidity will be drained and blamed on summer dole drum.
I wish someone could tell Mr. Trump when to speak and when not to.
With this president coming months will be difficult to trade.
Move will be violent because of liquidity drain.
Stop trigger at BE, cost commission.
Algo know the trade, executed few Cents before, second attempt long @ 62.30 target 62.68 now.
Long Signal generated for TNA @ 62.20 target 62.75 for day trading.
Sold at 68.30 no indication of pull back but it is good if I have more than 10 % profit.
Carrying to Monday was tempted to sell at 64.40.
Stopped out yesterday.
Long TNA target 66.20 stop today's open.
I do not write where I bought because in posting it takes time so you buy where you think is appropriate.
Sold out today at target.
I bot 44 shares of TNA @ 44.92 eod...
Also see TQQQ at
https://investorshub.advfn.com/3X-TQQQ-BUY-SELL-35839/
Testing TNA using ART HILL system.
He uses SPY MDY QQQ IJR
I am testing TNA = 3X IJR
10/29 LOSSES SystemTrader - Update to RSI Mean-Reversion Strategy and Dealing with the Dreaded Drawdown
You may need STOCK CHARTS EXTRA to read below (sorry)
Gain is 8.79%/year for the last 20 years.
https://stockcharts.com/members/articles/arthurhill/2018/10/systemtrader---update-to-rsi-mean-reversion-strategy-and-dealing-with-the-dreaded-drawdown.html
TNA is a mover.
TNA - i've been a big buyer here from 68 down to 62, avg'd in at 65.27.
The IWM on which it is based as of this a.m.'s LOD pulled back over 14% from highs in late Aug. That's well into official "correction" territory for the Russell2000, whereas the SPX was down only about 8.4% this a.m. from its all-time highs.
I expect a rebound rally of IWM and specifically TNA to at least upper $60s and a Christmas rally within a couple of months to upper $70s.
So far selling short was a better Idea from the time of my post.
5 min set up which was on buy at opening is on sell now will not generate buy till 89.60 probably which is 1 $ above.
Professional trader gang up 3X shares and volume is so low that meaning full size is impossible.
I probably shift back to SPY or QQQ.
Selling from the opening today, seems to rattle opening buyers.
Daily suggest move to 92 to 94 possible If I go long as of this writing I will take profit 91.30 area.
I will not go long without protection of 88 Puts.
Daily chart has downward slope so my prediction has less than 50 % chance, hence puts are necessary.
It manage to go up to 93.40 and than reverse, buy on 5 min generated at 13:35 and still on but.
30 min still on sell although became weaker.
5 Min chart went on sell @ 96.05 around 10:35 AM.
30 Min went on sell at 1:00 PM. 96.80 is stop on sell.
It is not sell short yet. It might test yesterdays high.
Staying long will be difficult but that is still it will follow.
Minor retrace to 93 is possible.
We did drop today but 30 min chart is still at this writing is long.
15 Minute time frame went short yesterday around 1:45 PM.
TNA gave a buy signal on Wednesday 8/15 at 3:15 PM.
That signal is still valid seems like it is tired and may correct for few days.
Aggressive traders can take profit here and can buy 94/98 spread for 15 days.
Happy trading and good luck.
Newton's Law Of Inertia, that states "an object in motion tends to remain in motion unless acted upon by an unbalanced force."
In other words, when markets begin strongly trending in one direction, that direction will continue until an "unbalanced" force stops it. Momentum strategies, which are trend following strategies by nature, have been proven to work well across extreme market environments, multiple asset classes and over historical time frames.
$TNA Direxion Small Cap Bull 3X to bust out to new highs this coming week: The $IWMs have fallen back after attempting to hit a new high in the upper 160s, looks to be an inverted head and shoulders setup om $TNA & $IWM charts.
Overall, the technical side of things is positive. EMAs are advancing and momentum is rising. Combine that with the potential support of a strong earnings season, we could see this rally continue into the summer.
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