Tasty TNA part 2

TNA continued to give good entries all day. 15 minute chart showed a doji at this point so a short back on the original trend suggested the best direction to trade in. Once momo took over, down it went.

TNA short entry

... profit taking 5 minutes before the day ends.

Buying bottoms

As much as I like to short the lows and buy the highs, sometimes a stock just screams out it is done dropping and is ready to reverse.

The near doji and huge volume on FTI said to me that the sellers were done for a while and the buyers were ready to take over. Then it was a short again

first chart FTI long

sold FTI

shorted FTI

cover FTI

Tasty TNA

With a small .01 spreads, huge volumes and large daily trading ranges , I find that trading the ETFs like TNA, FAZ, FAS, ERX and others provide everything that an active momo trader needs.

TNA today provided some tasty profits from clear signals with no hijinks. By the time I rolled in an hour after the open, TNA was making new highs but I could see that the strength of the move was waning. Then the Nasdaq test codes ZWZZT appeared on the new highs list first $2020 then the new lows $5. Sometimes this is a precursor to a big move. Possibly Nasdaq sees the orders lining up and want to test their operating system. Whatever the reason is, the markets fell. Watch for it and see for yourself.

First chart is TNA short entry

Second chart is cover and profit taking and went long

Sold the bounce and short again

Cover and profit taking