Wednesday, August 11, 2010

Quick Update

On a very short-term basis the market is oversold according to the intraday models. So that could justify an exit here with a nice gain on SPXU. But since it looks like a pattern may be complete here, I want to at least wait for divergence on the hourly technicals like MACD before taking this one off the table.

I will probably post a stop on SPXU tonight to follow-up on this one.

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