Hi Shoppers,

I think we are going higher, at least in the short term.

Check out the ProShares UltraPro Short Dow30 (Ticker: SDOW) chart:

SDOW formed a hanging man on Monday when it couldn’t close above the 200 day moving average and has confirmation yesterday.

A hanging man is found at the top of an uptrend and signals a change in that trend.

I think SDOW can trade down to the 50 day moving average at $26.30 and I believe it can happen by Friday, so I am looking at Friday’s expiration puts:

I like the Mar17 29 puts. I think they can at least double.

Trade Review

Disney (Ticker: DIS) traded $91 on Monday and created a doji with confirmation yesterday.

It could be ready to trade back up to $97.

Thanks for Reading … See You Next Tuesday,

Licia Leslie