05Dec12:31 pmEST

Looking for the Old School Sexy

OlkpFSS In Texas hold 'em poker, the term "sexy" is slang, used as a noun to describe the act of slow-playing a hand on "the river," or after all of the community cards have been dealt. Instead of betting your hand in one of the first positions to act, you instead "check" to your opponent(s) with the intention of raising once the action gets back around to you. It is a risky play on the river because you may very well not get the chance to raise if no one bets. And you may not even have the best hand if you think yours is a good one. Or, perhaps, you are tying to bluff someone off a solid hand, but they choose not to fold to your raise, and instead call you down to win the pot. Of course, those reasons add to the allure of the play, and thus we have "a sexy" reference in poker. In trading, "a sexy" for me may very well be trying to bottom-fish chart alike the Russia ETF, first below on the daily timeframe. Normally, I am not inclined to play for these types of bottoms. But just like "the sexy" in poker it may be worth the risk once in a blue moon, given the potential upside rewards. Specifically, if the RSX closes near session highs today it will put in a "hammer" reversal candlesticks after a prior steep downtrend. RUSL is the triple-long ETF for Russia which I would consider either later today or first thing Monday morning upon any signs of upside confirmation. And as far as the natural gas "sexy" play, the second chart below of the UNG 30-minute timeframe illustrates I did not get the gap-down setup I wanted this morning. Nonetheless, I am rolling with the punches and if UNG puts in a higher low below, and then push above, $19.50 I still have UGAZ on my radar for a sexy in its own right. RSXUNG

Update on Two Market Chess-S... The Two Lane Rising Channel ...

 
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