Tuesday, February 14, 2012

Use This ETF To Protect Profits

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The market is starting to get tired here as ITZ has talked about in recent posts Read
ITZ suggests using the Proshares Ultra Pro Short S&P 500 ETF ticker symbol SPXU as a hedge to their equity positions. This is a short term hold, ITZ expects any pullback to be minor and to last for several days to a few weeks. SPXU is trading at $10.59, taking a full position. Upside target $12.00. Set STOP @ $10.25. ITZ is looking for 1275 downside support and 1365 resistance.

1 comment:

itzstockchartz said...

This market just won't correct, those in $SPXU who want to remain hedged, watch May 2011 high resistance 1367/ 1370 if you wish to remain in this ETF. Otherwise exit here at $10.25 and re-enter later.