Trade Alert: FAZ SKF

This rally based on Bull Sh!t as it is , is still very real and giving us a excellent opportunity to fade into it with more SKF and adding FAZ. I'm not sure technicals mean anything anymore, but if they do, then the stochastics of both ETFsare compelling. 

First you can see that except for scale the charts are very similar, so we will concentrate on the SKF. On the 3 month chart in the daily time frame you can see the stochastic crossover around 20 under the consolidation pattern that's building under $75.00. I would love for this to fall back to $50 under heavy volume, but we don't want this to go over $75.00 without getting in, so that will be our entry point with a 2% stop or $73.50.

Our entry for the FAZ will be $15.00 with a $1.00 stop. 

Remember that this is a 3x financial index so it will take some force to turn it around, but the failed rally will provide plenty of impetus. Read the Minyannville post.