Leveraged Inverse ETFs: Technical Update
For those of you who like juggling diamondback rattlesnakes, I give you leveraged inverse ETFs. Here are the current buys.
Buy. Bullish low pole reversal pattern. Resistance at 57.
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Buy. Broke a double top. Resistance at 126. Target objective is 132.
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Bullish pattern developing. OK to Buy here. Downtrend reversed, but still vulnerable to downside. A move to above 34 initiates a double top breakout. Resistance at 41.
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Buy. Bullish low pole reversal pattern. A move to 36 initiates a double top breakout. Resistance at 44.
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Buy. Double top breakout. Target price is 71. Near term resistance at 61.
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This is a Buy. Double top breakout confirmed last Friday. Price objective is 91. Heavy near term resistance from 81 - 83. Corroborates the analysis by The Fly’s chart chomping fool.
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Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. The author may have a position in one or more stocks mentioned here. Trade at your own risk.
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May 28th, 2008 at 12:37 amCan you go over selecting price targets whenever you can get the chance?
May 28th, 2008 at 12:28 pmThanks
Alpha
Good work here….appreciated.
The only question with FXP is the pattern of the angle it will take upwards…just don’t have the luxury of Fly’s abundant resources so I have to call my entry correctly.
Technically, she’s do for a little pullback, but this is the kind of stock that tosses technicals on their cupcake eating but…meanwhile, tracking it.
WM
May 28th, 2008 at 1:32 pm[...] investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information [...]
May 28th, 2008 at 3:41 pmGreat stuff. Can you provide analysis of SRS please?
May 28th, 2008 at 7:44 pmDEVILDOG
I wouldn’t buy SRS here. Supply has come back in. Stuck in no man’s land right now.
May 29th, 2008 at 1:54 pmalphadawgg, THANKS! You were obviously correct after the drilling it got today. I bought some at the low. Looks like it should reverse to the upside tomorrow and head to a higher high. SPG looks like a top to me. I’m going to SHORT it in the morning. I’ve got an intermediate target at $94 for SRS to close a daily candle gap. What does P&F say?
May 29th, 2008 at 8:38 pmPnF still indicates supply.
Move to 87 confirms a reversal. You may be rolling the dice here.
Institutional investors are getting more interested in REITs, since they appear to be a good value. Cash flows still steady. The average REIT is still trading at a discount to NAV, even at current market prices—so I’ve been told.
Commercial REITs are up YTD, in general. Best area has been storage.
Good luck.
May 30th, 2008 at 1:02 amTHANKS ALPHADAWGG!
May 30th, 2008 at 10:20 am