Monday, May 2, 2011

trendline breaks:

TSL  - broke -- ran  1.70  then faded

IWM broke line --   TZA ran a point

SLV broke trendline (set up 3 bumps descending) dropped 6% intraday.

These are the best intraday trades to take.  

Also CCJ - ran a point,  ANR   1.50  -- all on trendline breaks.  The stop should be right under as there should be no weakness when entering.   Should take 1/2 position then add. 

Market is now broken and all swings are traps.

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