Monday, July 6, 2009

ERY - Short

ERY (Direxion Daily Energy Bear 3X Shs(ETF)





Entry: 26.80
SL : 27.10

Partial Exit (3/4th of the position): 25.80

Holding remaning overnight. Expecting it to fill today's gap, hopefully tomorrow.
Expecting target of $24.80 on the remaning position.

Dow: +44.13 (0.53%)
S&P 500" +2.30 (0.26%)
Nasdaq: -9.12 (-0.51%)

Update:

Covered the remaining position at $25.60 the next day (7/7)

ERY was weak early in the premarket but just before the open, it recovered all it's losses and was looking strong. Covered the remaining at the open.