I still have very little interest in stepping in front of the indices to short them here, instead opting for a few individual shorts.
Mostly, though, I am playing the Ebola stocks for momentum.
However, next week can be a different story, especially if the Russell fails below its declining 150-day and 200-day moving averages.
On the small cap ETF daily chart, the arrows point to $113 as being the first spot I would consider trying out TZA, provided we see rejection there.
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Chess – does the idea of another GM short look to be setting up to you. Maybe sometime next week?
Absolutely. Still damaged. An exuberant bounce in the tape does not outweigh these declining 200-day moving averages.
Thanks, Chess. I plan on going back to the well, but I’m walking there…