Thursday, June 16, 2011

trend trade? no

GDX formed triple bottom at support - entered on upside break which failed, hit new lows...

GDX was down 2% at the time so trend was down , market was weak.  This was a contrarian play instead of an actual, bull flag or 'rest' to a new level.

 Market still weak...

 continuation patterns - easier to go with the flow.  TZA broke pullback and ran 1.40 in an hour.

1) identify 10 day trend, wait for pb, trade in direction of major trend.

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