Looking For Edge With The ETFs
What better way to
‘sell-e-brate’ a benchmark than with a good ol’ fashioned short?
Well, if it’s the Dow Jones 10,000 benchmark, it gets even better–because with
this particular index, one can sell without the uptick rule. ETFs, or Exchange
Traded Funds, such as the Dow Jones (DIA), Nasdaq 100 (QQQ), or S&P 500 (SPY)
allow traders and investors to work from the short side without the impediment
of waiting for an uptick….Now, that’s cause for celebration.
09:36:12
Reversal Setup
The Dow Jones ETF (DIA)
is trading up .24 at 100.05, amidst much ‘hoopla and fanfare.’ With the much
coveted 10,000 benchmark out of the way, potential reversal shorts below session
and consolidation lows will trigger out of an
Opening Reversal setup at 99.99.
We’re not popping the champagne corks just yet,
but maybe some soft-spoken, eloquent words from Greenspan is just what the
market needs for a little bit of profit-taking activity out of a very nice
technical setup (also a broadening triangle on the 30-minute chart) and a very,
very important number.
Chris Tyler