TWM - UltraShort Russell20 Trade 031307

It’s thin, but there’s quite a range in recent trading for the Proshares UltraShort TWM. This new ETF trades at 2x inverse the Russell 2000 index. 69.25 would be a 50% retracement from the high to low. It’s either going to find support at the rising 20dma (yellow), or found it yesterday. I bought some shares on the higher high buy signal here. R = 1.4, which sets the stop below the pivot low 69.42. With the light volume, and added volatility, I’m comfortable with a larger R to avoid an easy stop.