I was also able to get back into JNUG on the pull back to 3.63 which was the 70.7 fib retracement. Stops are now at 3.60 on JNUG.
Finally, I think UUP is finally really near the peak today as it is kissing the upper rail of the channel. It could throw over up to 23.60 but it is now within my target range of 23.50-23.60. The most satisfying finish would be where height of 5 is the same as vertical height of 1 as represented by the blue bar. However, the gap fill on TVIX and UVXY is a compelling place to reverse so I wonder if UUP it will ever get that high. JNUG, UVXY seem to be trading in opposition to UUP.
2 comments:
Hey Captain,
Loaded up today pretty big on JNUG, TRX & TVIX. Not concerned if I miss the absolute bottom by 15-25% or so.
Here's to all of us who have bought in at these rock bottom prices hitting it big sometime soon!!
Thanks again for all your work.
~J.T. Marlin
Thanks for the heads up JT. It is gratifying to see people using this blog as one of their input data sources for decision making. I also applaud your view about loading up at these prices and not worrying about grubbing every last dime out of the trade. Most people should go this way because it is just very difficult to get the last dime and it also leads many to an unhealthy "wait forever" strategy. JNUG is far, far closer to a big bottom than to a big top and even missing the exact bottom by a dollar will not matter much. GL with your trades man.
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