Yesterday afternoon we entered RUSS, the tripled-levered SHORT ETF for Russia, at $18.94 inside the 12631 Trading Service.
We are trimming into strength this morning, as Russia is not only back in the news but the technicals for the RSX, Russian ETF on the long side, continue to deteriorate.
On the daily and weekly timeframes, below, respectively, note the potential to move lower yet to the lower Bollinger Bands.
Given the prior steep downtrend, heretofore, I would also not rule out a crash event before arriving at a real bottom.
That said, trading a triple-levered short ETF for the country of Russia is adult swim, which is why I am scaling into strength and trading around it.
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