November re-test in play

Sorry the blog has been off line the past two days, the host company was making some changes and their seamless transition proved not so seamless.
It has been quite a two days. Yesterday's downside action was strong and broad, the fact that North American indices rallied off key support today may prove constructive. Since Christmas we have been expecting a re-test of the November lows. We may have got that yesterday. Still too soon to tell what longevity this bounce may have. We will have a better idea by the weekly and then monthly close at the end of January. This month has already been one for the history books. The next two weeks will be significant either way.

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3 Responses to November re-test in play

  1. Anonymous says:

    Can you, or anyone else out there, explain the mysteries of HOU (Horizon BetaPro NYMEX Crude Oil Bull Plus ETF). It has behaved strange lately. The share price now is lower than it has been during December when crude was around 30 percent cheaper. Even while taking the recent stock consolidation (5 to 1) into account my thinking is that the overall value of one's investment should have gone up with the price of crude. Where am I going wrong in my reasoning?

  2. Anonymous says:
    The Barrons article shows how the double daily derivative ETFs can go against you even if you are right about market direction.

  3. Anonymous says:

    Many thanks for that lead. I have been doing pretty well with this family of ETFs, but that was when I was trading them on daily basis and now I know why. I guess hanging on to that dog through Xmas wasn't a good idea. All said, a good lesson.

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