SKF - I used the 113 level established early in the morning for entry and just trailed the stop using the moving averages and 5-min bars. I commented in one of the chat boards that the last hour is too volatile for the inverse ETFs and sure enough it was. I'm glad I exited a bit early.
SRS - I started the day on 5-min charts but got a false break-out early on.
I then switched to the 15-min chart and waited until it line up and crossed the moving averages before re-entering. Again, the last hour was a crazy so I'm glad to have exited a bit early.
GOOG - This was a slow mover but set up a very nice inverse holy grail off the moving averages. I liked the fact that there was a very narrow range to determine a stop level. I went with Jan 380 puts and managed about 5 points later in the day.
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2 comments:
Amazing how SRS and SKF both collapsed at the close. I have had someone emailing me about buying SRS and how I am wrong being cautious on the Ultrashorts. Sorry he did not listen and bought some more of SRS today.
I wanted to swing the ultrashorts based on the daily but it was too risky after looking at the last hour sell-offs over the past 5 days. Glad you held your ground!
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