The market close was not good (TZA)
Today's rally was looking great - up until the last 30 minutes when the sellers came back and sucked the bulls right back into the grid.
It was too good to be true, and telling of how the market will open tomorrow I believe.
We've been trading in this upward price channel for the past month or so, and until we break-out either on the upside or downside, the safest play in my opinion is to trade the ups and downs of this channel with TZA & TNA.
Mastery Sponsors - Become one Today
MASTERY Bottom line: For Thursday, the play is TZA.
Note: I've noticed over the last month a correlation between the day of the week and how the market perfoms. After crunching the numbers it validated my thesis exactly. Monday, Tuesday, Wednsdays = up. Thursday & Friday = down.
See for yourself below, this is for trading days between 08/10/11 and 09/14/11 of the SPY. (Keep in mind this is a very small sample size and who knows how long this will continue) However, based on this info, you want to buy in on Friday afternoon and sell Wednesday Afternoon.
|Day||Count of Up Day||Count of Down Day||Sum of Gain/Loss Percent|
Best of the Blogs
Scanning and identifying the best blog entries every hour
- The Bond Market Isn't Buying The Euphoria In These Ten Stocks | ZeroHedge
- Central Banks Now In "Dangerous Situation": "You've Thrown The Kitchen Sink At It, What's Next?" | ZeroHedge
- Gundlach Explains Why The Market Hasn't Crashed Yet: "People Are Holding And Hoping" | ZeroHedge
- Ron Paul: I Wish Nobody Was Bombing Syria | ZeroHedge
- DuPont Stock Soars After CEO Quits And Company Slashes H2 EPS Guidance By Nearly 50% | ZeroHedge
- This Is How Close US And Russian Jets Are To A Dog Fight Above Syria | ZeroHedge
- Why Are You So Angry? | Financial Sense
The most relevant financial news and articles from the Internets
- Drew Brees Tops the Power 100 in 2012 | BusinessWeek
- For Volkswagen, costs of scandal will be piling up | Business Insider
- Asia stocks rise on hopes for Japan stimulus, Fed hike... | Business Insider
- A major startup funded by Tech City UK says the organisation isn't needed... | Business Insider
- EU high court rules against prisoner seeking voting... | Business Insider
- American Apparel files for bankruptcy protection | Business Insider
- Republican Gov. John Kasich says he's a 'troublemaker... | Business Insider