10th Sept 2010 – After selling C, SHORT it and buy TZA

If you recall, I just sold C one day ago. Yesterday night after DJIA gap up after the good unemployment report, market started to weaken down. I feel that SPY seems to be pretty weak and my personal feeling is that yesterday night is a BULL trap.

Because I just got scared out from FAZ by the market rally, now I SHORT C and buy TZA. Now, TZA is another dragon beast like FAZ. I wish I made the right decision this time to get back in to the BEAR side.

This section is for TZA

Input:

1. I just got scared and sell FAZ by a gap up on DJIA. Refer to the post here.

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses
32.10				30.10

Reason for Buy / Sell / Sell Short / Buy Back:

1. SPY even though gap up > 80 points before market open, but then gets very weak in midnight.
2. TZA intraday looks strong.
3. Next day is Friday, so I thought it should be much safer to get to the BEAR side.

Lesson Learnt:

1. My decision on getting in TZA might be a bit too soon. Be careful with this dragon.

Intraday Chart

Historical Chart

This section is for C

Input:

1. -NA-

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses
		3.93		4.07

Reason for Buy / Sell / Sell Short / Buy Back:

1. It looks weak again after hitting the ceiling at $3.95
2. From the long term chart, it is facing resistance from the down trend line and 20MA and 50MA lines.

Lesson Learnt:

1. Watch out! If this thing breaks the $3.95 barrier, it can be very dangerous.

Intraday Chart

Historical Chart