On an administrative note, I recently noticed that I must not have posted an official update on the TZA (3x bearish/inverse small cap ETF) short trade that was added back on June 19th. All official trade ideas on Right Side Of The Charts, winners or losers, will have a front page post after any of the price targets or the maximum suggested stop is hit.
TZA 60-min July 17th
The stop on that previous trade was barely clipped with TZA immediately rallying from there to make a near-perfect tag of T1, followed by the expected pullback & another rally up for a near-perfect tag of T2, before pulling back once again to test the previous low.
The stop raid on TZA (and one of the reasons that the stop on the current SQQQ short trade is based on a daily close vs. any intraday move below) resulted in a 4.7% net loss or a 1.6% beta-adjusted loss (based on the 0.35 beta-adjusted position size) for that trade. TZA will now be moved to the Completed Trades archives along with all previous posts.
Note: The IWM Active Short Trade that was entered on June 27th is a separate trade with different trade parameters. The details on that trade can be viewed here.