The market continued higher yesterday and so did IWM. You took your first short position in the etf trade. For the leveraged trade, you took your first long position in TWM. Updated charts are posted below.
As mentioned yesterday, we’ll scale in with up to three 3 positions. So, take a second short trading position should IWM close higher today. Otherwise, our exit signals for IWM are triggered when the etf price is less than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. Trade TWM on the signals for IWM.
All trades are at the market close. Please trade responsibly.
Join me every day as I offer new etf trading ideas for you to follow. Have a great and safe holiday weekend!
Updated charts:
Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
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Can’t make a trade? Let Warren Buffett manage your portfolio – AlphaClone
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IWM closed higher yesterday, generating an etf shorting opportunity based on our etf trading signals. Consider taking a short position in IWM should the etf close higher today.
If you’re unable to short IWM, consider trading the inverse etf – TWM. However, use the etf trading signals for IWM to trade TWM. TWM is a double inverse etf – please trade carefully.
IWM – The investment seeks investment results that correspond generally to the price and yield performance of the Russell 2000 index.
TWM – The investment seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the Russell 2000 index.
We may take up to 3 trading positions over the next couple of days. Our first position is 1/6 of our total trading amount. Our second position is 1/3 of our total trading amount. Our third trading position is 1/2 of our total trading amount. You could also take positions in a 20-30-50 ratio. All trades are at the market close. Please trade responsibly.
Assuming we get into the trade, our exit signals for IWM are triggered when the closing price for IWM is lower than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. Trade on TWM when these signals for IWM trigger.
Learn why the Russell 2000 index is now a good short etf trading opportunity in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.
Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
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Learn 16 Strategies to Improve Your Trading…
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The broader market is in an over-sold condition. Notice the low RSI(2) reading for SPY in the updated chart below.
So why not go long here and make an etf trade? Our rules tell us to trade long only when the etf price is greater than its 200 day moving average – SPY is currently below its 200 day moving average. Why is that important? Read more by author by David Penn.
We’ll patiently wait for a strong stock market rebound to trigger some new short selling etf trading signals. European markets and the futures are up strongly this morning as I write this.
August trading results have been posted and you can review them here.
All of our etf trading signals are found in the book by Larry Connors: High Probability ETF Trading – now at a really great price with the release of the paperback edition! Get your copy today and be ready for the next etf trading session.
Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
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Let Warren Buffett manage your portfolio – AlphaClone
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- ETF Trading - USO, UCO We closed 2 more winning trades on Tuesday! For USO and UCO, we took our gains at the market close, as the RSI(2)moved above 70. We gained 4.04% on USO and 6.75% on UCO - all in about a week. Recall that last week, traders who exited on the (MA)5......
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