ETF CORNER

SSG : Sell !!!!

As much as I suggested to buy SSG(Double short Semis) when we were trading at $34 (Click Here)which represented a $48.50 on SSG. I suggest getting out of this trade at $66 !

SMH : Long & short term !

Lots of excitement on SMH lately !! I'd be extremely cautious as we approach the $36 level ! Why ? Because on the long term picture it's near the .236 fib retracement off the all time highs. Shorter term it's also near the high end of the expanding megaphone ! I'm not even mentionning the high flying RSI readings !! Oh SSG where art thou ???

SMH : Twenty six !

On the last post on SMH I suggested shorting SMH when it would hit $26 (Click Here). As you can see now, the $26 level provided a good entry point so far. I still believe that SMH will not cross above the blue resistance line and that it will ultimately roll over to the downside. Here is the update on the previous chart...

 

SSG : Double short SMH !

Very strange to see SSG (Double short SMH) doing well this morning while the QQQQ are having another good start of the day !! Hmmmm..... something is fishy around here !