Traders Corner   8 comments

Yesterday’s upward move by the markets (excluding the Dow) was enough to push the McClellan Oscillator above oversold and barely into neutral territory, at -58. Considering sentiment is still negative, I wouldn’t be surprised to see another UPRO buying opportunity sometime in the next few days.

The S&P 500 levels to watch today:

UPSIDE: 1654 (June’s high), 1657 (50 day moving average), 1658-1659 (3 data points), 1663 (August 16th’s high), 1679 (August 15th’s high), 1682-1684 (4 data points), 1685 (20 day moving average), 1686 (August 9th’s low), 1688-1693 (12 data points), 1695-1696 (3 data points), 1698-1700 (2 data points and July’s high), 1703 (August 5th’s low), 1705 (August 6th’s high), 1707 (August 1st’s high), 1709 (2 data points and the all-time high), and 1720 (top of the Bollinger Bands).
LAST CLOSE: 1652 (August 16th’s low).
DOWNSIDE: 1650 (bottom of the Bollinger Bands), 1645-1646 (2 data points), 1604 (July’s low), 1597 (April’s high), 1581 (May’s low), 1572 (March’s high), 1560 (June’s low), and 1551 (200 day moving average).

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Posted August 21, 2013 by edmcgon in Daytrading, Investing, Market Analysis

8 responses to “Traders Corner

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  1. Bought TZA this morning at 26.76. Sold Friday’s 27 for .48 reducing my basis to 26.28. If called out, profit .72 2.7%

  2. Jumping on the bandwagon… trying out the same play. In @ 26.77 and sold 27’s for .45. However, not being as wise as my counterpart, will only yield .68 if called out.

  3. OK, so as foretold here, NUGT has inverse-split again. The yellow stuff, however, appreas to be creeping upwards. What price would it have to reach for NUGT to split the other (good) way? Are there rules that govern when a stock splits or is it up to the people running that particular equity?

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