FXP - Proshares Ultrashort

[DJ South]

I liking this, looks like it may have found a possible bottom. With a bullish price object at 88 and the first buy signal since march, we could have a good run coming up. Of course its not certain but you could use ~64 as your stop and I think it's definitely worth a shot. I may look to get into this on Monday. I would love to see this thing hit 85.89. That would be HUGE imo. Strong buy signals on both charts.

[MC]

Doji at 21ema on a daily chart, good odds that this drops off to some extent IMO. So in theory that should give the market a pop tomorrow, let's see.

[DJ South]

Originally Posted by MC

Doji at 21ema on a daily chart, good odds that this drops off to some extent IMO. So in theory that should give the market a pop tomorrow, let's see.

buying on pullback if it doesn't give a buy signal is always a possibility, although I would much rather have the market (and V along with it..) pop

[trustdnb]

Looks like it ran into resistance at the 21 Ema. Seems like its still in distribution. You might want to also check FXI, which FXP is the inverse of, and see if it looks as good short as FXP does long.

[MC]

Originally Posted by trustdnb

Looks like it ran into resistance at the 21 Ema. Seems like its still in distribution. You might want to also check FXI, which FXP is the inverse of, and see if it looks as good short as FXP does long.

Yep...well I run 21sma but same thing more less. Stalled there and being ultra short I don't really like the odds much. Just like early on with Visa though, these don't have enough chart data for me to feel real good on any opinion.