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July 25th, 2010 at 4:22 pm
PHIL, yesterday someone put up the tweezer formation, this is someting I see on the 1 min chart so often that I have used as a get out on day trades. If there is a large toothpick which seems to be computer flash trades to clear stop loss or sell orders also things will move. This with confermation from other indicators faststock, ems, overlays and all important JRW levels as I find them imposable to do other than on paper. I even take note of what you say during the day as a tool. The artical confirmed my observations and your longer term outlook are working for 10 weeks paper and 5 sucsessful out of 7 day trades, losses were small. I feel way safer using IWM as you refered this week rather than JRW’s TNA/TZA. Thanks for the confermations both tweezer and IWM options are safer but move enough fo me. So far the trades are small and I continue to only add the profit. Fedelity offers free IWM ETF trades, any comments on there service would be much appreciated by anyone.