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SPXL Official Stops Hit, Price Targets Still Likely To Be Hit Soon

Just an FYI on the SPXL official trade idea posted earlier today. As SPXL (3x Bullish S&P 500 ETF) exceeded the suggested stop of 58.50, moving as low as 57.18 before reversing, in keeping with consistency, SPXL will be considered stopped out for a loss of 3.2% and moved to the Completed Trade category. For those still in the trade who set their own stops or gave it a little more rope, here are my thoughts. I typically set the stops on a trade using an R/R of 3:1 or better, calculated to the final price target. In my haste to [...]

2017-03-08T21:20:03+00:00Jan 20, 2016 2:57pm|Categories: Completed Trades - Long|Tags: , , |5 Comments

SPXL Aggressive Long Entry

SPXL (3x bullish S&P 500 ETF) will be added as an aggressive long entry here at 60.41 with a suggested stop below 58.50. T1 is 66.40 & T2 (the final target) is 69.92. Of course, one could also use any of the $SPX tracking vehicles such as SPY (1x/non-leveraged $SPX ETF), SSO (2x leveraged bullish $SPX ETF), ES ($SPX e-mini futures) or short SPXS (3x bearish $SPX ETF), depending on your preference. SPXL 60-minute Jan 20th   I chose SPXL as the preferred proxy for this aggressive, counter-trend trade for a few reasons. First, I believe that the critical [...]

2017-03-08T21:20:03+00:00Jan 20, 2016 10:17am|Categories: Completed Trades - Long, Equity Market Analysis|Tags: , , |Comments Off on SPXL Aggressive Long Entry