Trade the Cycles

Wednesday, October 22, 2008

I'm Looking To Trade DUG (UltraShort Oil & Gas ETF) Right Now

DUG (UltraShort Oil & Gas ETF, http://stockcharts.com/charts/gallery.html?dug) created a huge 9%ish very bullish breakaway type gap up at today 10-22's open, see http://finance.yahoo.com/q/ta?s=dug&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=, so, I'm looking to day trade DUG right now, not DIG (Ultra Oil & Gas ETF) yet, once DUG does an Elliott Wave ABC down up down intraday correction.

The XOI's (http://stockcharts.com/charts/gallery.html?%24xoi) crash at the open/early on was (very likely) an intraday Wave A downcycle, see http://finance.yahoo.com/q/ta?s=%5EXOI&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=, and, the rebound that began at 10:05 am is very likely an intraday countertrend Wave B upcycle, that I'm looking to day trade ultra short soon via DUG. Nothing I discuss on this Blog is a recommendation.

.......http://www.JoeFRocks.com/

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