I had to sell the position in tza. I was over confident of the fact that there would have been a change in trend today based on the patterns the swing trading forecast model. The swing trading forecast model predicts changes in trend but those changes in trend can also end up being a break out or break down of the market.
There was a trend change predicted for today and the market ended up breaking out. The next trend change is slated for March 15. Based on what happened today I am bullish till March 15.
When QE2 was announced, the same thing happened. I have to agree with Prechter that the Fed is going to lose credibility down the road. I am surprised that hasn't happened already.
TZA got taken out at 19.97................. OUCH.
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