Replies to post #5032 on 123Tom's TA study group

[Citrati]

Let's see what happens on the AVXL 5day 1minute chart and the potential intraday double bottom at 3.12. Haven't had a bottom hold in 4 trading days nowl

[123tom]

yes...I wish I could disagree.

a pop this morning (while the whole market made a big pop to start the new year) AVXL makes a small blip to hit 3.30 and then gets plunged down to 3.12 in the selling game we are so familiar with. now it tries to climb back admirably, but stops at 3.28, and it all looks like wallowing in weakness and manipulation in the downward direction.
Chuck, what I'm seeing on the intraday chart is a target for this bounce around 3.40 area,and then resistance jumping on it again to try and push it back down. Do you have a lot of signals around 3.40 area?
resistance zone (3.35/3.40/3.45/3.50

3.50 looks so far away right now. and 3 dollars looks so easy to plunge down to hit.

Nice pop a short while ago in IPIX. looking like it wants to make a move upward?

What do you make of the big green day across the board for stock indexes and even miners and metals? they want to make a good looking start to 2018 ?
not sure I can trust it,myself . I'll be waiting for the Hammer to slam it down sometime. but maybe it can climb for a week or two. I think I'll still follow the technical indicators here, and watch out for the big resistance zones , especially in the miners and metals.

[123tom]

Have you been playing NUGT?
are you watching NUGT?
will it fall off a cliff at this 34/35 resistance zone?

a nice run from 24 to 34
would most traders playing this 3X trader, buy at 24 and hold on for all this time? I was under the impression that the 3X traders should be short time frame trades, maybe 3 or 4 days and out.
how do you play it. is it ok to buy at the bottom and keep holding it? isn't there some end of day recalculation that bleeds profits ?