Monday, March 16, 2009

Trade: SDS

I entered 400 shares of SDS today when my buy limit order was hit at $88.15. I don't do this often, but I am using two different stops for this trade. Half the position has a stop just above $78, while the other half is above the 50 day moving average.

The market is very oversold, thus this inverse ETF is overbought and near support levels. I expect a market bounce early this week due to overbought conditions.

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