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How We Nailed The Market Low For 4.6% In 24 hours

By David BanisterStock MarketsJun 07, 2013 04:04PM ET
How We Nailed The Market Low For 4.6% In 24 hours
By David Banister   |  Jun 07, 2013 04:04PM ET
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At our ATP trading service, we use a combination of our understanding of Elliott Wave Theory, Fibonacci Pivot Analysis, and other indicators to time 3x ETF bull or bear entries.

Over a week ago we hit NUGT (Gold Stock 3x ETF) for 24% blended return in 48 hours doing the same, and the week prior UGAZ (Natural Gas 3x ETF) for 7.4% in 48 hours as well.

We try to find about 1 per week, sometimes more

This week we entered the TNA ETF (3x Long Small Caps) on June 5th as the market had continued its 2 week dive. We knew there was a 38% fibonacci pivot being hit from the recent market highs, and we thought that as a wave 4 pattern (Elliott Waves) we should go to the long side of the market as everyone was selling out.

We closed out TNA for 4.6% plus gains today and some ATP traders close to 6% if their entry was lower than the high average we are using (46.70). Our alert was to buy from 46-47 on the TNA ETF, and it traded after our alert between 45.70 and 47. If you picked it up with an average closer to 46 your gains were that much better.

We always try to scale into our trades on pullbacks in the first 24 hour window.

Either way, a 4.6% swing gain in 24 hours works for us and we don’t try to pretend we will hit the exact high, we just take the meat off the bone and leave the scraps for the vultures.

How We Nailed The Market Low For 4.6% In 24 hours

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How We Nailed The Market Low For 4.6% In 24 hours

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