Closing Inverse ETFs, Going Long TNA With a Stop

Closing the leveraged inverse ETFs (TZA, SPXS, FAZ) and initiating a leveraged long using TNA.

I may be early, but it is a low risk shot with good risk/reward with a stop at 71 on the TNA

I will sell close to 80 if we get there, adding and scalping along the way.

Why am I inclined to go long here?

I see support at yesterday’s low print on the SPY.  This is just a short term reversal that I am playing.  I have no firm conviction beyond the next day or two.

I also started a position in LABU a 3 x Bull Biotech ETF.  Stop at 35 on that one.

Here goes….

tna-long

 

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