Friday, August 7, 2009
SDS: The Ascending Triangle/Bear Flag
From August 5 on the SDS:
"Yesterday, the SDS got to within sixteen cents of its "nested" Ascending Triangle target of 45.21. As we've seen so many times before, these "nested" patterns can pack some punch when they break out or break down, as this one did, particularly when the breakdown is a Breakaway Gap, as this one was."
When I saw the SDS trading in the 45.20's in pre-market yesterday morning, I placed an order for 2,500 shares at the 45.21 target. They only filled 1,342 shares.
I tried to get the remainder of the shares in the regular session. Nope. The session low was exactly 45.21, the Ascending Triangle/Bear Flag target got MADE, and they gave me zeeeeeeeeeeeeero shares. Curses!
Gain: $1,525. I'm grateful, though, especially since it was a trade on the "dark side." LOL.
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