Monday, March 3, 2014

RUSS Update

RUSS is expected to open around the 21.70 area, about 25% up from Friday. This level fits well with the previous floor line. I intend to initiate a short position at this level at around 5% of total portfolio size if RUSS is not totally out of sync with RUSL, the leveraged Russia ETF of opposite direction. The fundamentals doesn't look good for Russia with uncertainty about the Ukraine crises expected to continue. But fundamentals should best be ignored in order to have success in technical trading.

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