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Post by huh on Aug 27, 2015 12:29:41 GMT -5
ES testing the last FIB retracement from the 08/21 early morning high, a little >1986 - make sure to watch those stops. S&P intraday support now ~1983.40
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Post by huh on Aug 27, 2015 12:36:47 GMT -5
Bonds ups, commods up, gold & miners up, market up, dollar up, VIX futures not moving
Something's gotta give (doesn't it?)
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Post by dino on Aug 27, 2015 12:43:58 GMT -5
Got me some SPXU-know you want to short this market. Semi-tight stop. If we clear HOD on ES/SPX/SPY we could see another 60pts up imo so I won't ride it up. I'm still in. Watching spx 1990, spy 199, es 1988 areas. Not feeling good about this. Will most likely stop out.
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Post by huh on Aug 27, 2015 12:47:04 GMT -5
Got me some SPXU-know you want to short this market. Semi-tight stop. If we clear HOD on ES/SPX/SPY we could see another 60pts up imo so I won't ride it up. I'm still in. Watching spx 1990, spy 199, es 1988 areas. Not feeling good about this. Will most likely stop out. Lots of things could be rounding out here. GOOG led the way up this time, and could be leading it down now.
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Post by huh on Aug 27, 2015 12:49:22 GMT -5
Some of the intraday supports to watch:
GOOG 627.90 AAPL 111.90 IWM 114 (filled a gap with that HOD today) XLF 23.65
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Post by huh on Aug 27, 2015 13:16:50 GMT -5
GOOG losing that support
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Post by crumbdon on Aug 27, 2015 13:24:54 GMT -5
Got me some SPXU-know you want to short this market. Semi-tight stop. If we clear HOD on ES/SPX/SPY we could see another 60pts up imo so I won't ride it up. I'm still in. Watching spx 1990, spy 199, es 1988 areas. Not feeling good about this. Will most likely stop out. Something Doug Kass just wrote on Twitter may bring small comfort: "Remember how frightening it was buying Tuesday afternoon and consider how frightening it is shorting now." He is scaling in shorts here for obvious reasons. GL, man, hope you make a killing
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Post by novie08 on Aug 27, 2015 13:27:59 GMT -5
Oil up nearly 7% with dollar up. Market rises with dollar, although earnings call after earnings call state that it's the rising dollar hurting revenues & profits. This market makes no sense to me fundamentally. BTW, dollar futures hit some pretty major resistance with that high. Bulls better step up here. Constantly have to remind myself that fundamentals don't count and haven't for the last 6 yrs.
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Post by huh on Aug 27, 2015 13:55:42 GMT -5
Some of the intraday supports to watch: GOOG 627.90 AAPL 111.90 IWM 114 (filled a gap with that HOD today) XLF 23.65 All those supports lost. The tell was VIX futures - it wasn't falling with the market. Also IWM's HOD (& some others) VIX futures now breaking out to the upside. If it breaks >25.50, kiss those recent market lows good-bye (24.76 is another resistance before that)
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Post by dino on Aug 27, 2015 14:04:05 GMT -5
I'm still in. Watching spx 1990, spy 199, es 1988 areas. Not feeling good about this. Will most likely stop out. Something Doug Kass just wrote on Twitter may bring small comfort: "Remember how frightening it was buying Tuesday afternoon and consider how frightening it is shorting now." He is scaling in shorts here for obvious reasons. GL, man, hope you make a killing What's funny is that the majority of the time I post what I "feel" here the exact opposite happens. You guys should take note of that. lol. Up 3% so far but with a small position so I won't make a killing. But it's small enough that I don't mind holding to see if we really do test those recent lows. Worth the risk imo. Now that I've again made it known how I "feel", cue the reversal!
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Post by huh on Aug 27, 2015 14:14:08 GMT -5
Nice job with the patience dino - and especially for seeing that resistance
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Post by crumbdon on Aug 27, 2015 14:38:02 GMT -5
Bulls gotta gun it here. Theres a $30+ wick on the ES that's got to be erased before the close!
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Post by crumbdon on Aug 27, 2015 14:47:08 GMT -5
Looks like the dip brought a rush of sheep, er, buyers!
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Post by huh on Aug 27, 2015 14:53:45 GMT -5
This market is nuts
Or it's me [shrug]
So far, this bounce looks only like a FIB retracement of the rounded tops
VIX futures support now 22.80
JM(nutty)O
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Post by crumbdon on Aug 27, 2015 15:03:45 GMT -5
Bulls gotta gun it here. Theres a $30+ wick on the ES that's got to be erased before the close! Props to bulls, you did it. VXX must've made you feel safe, eh?
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Post by huh on Aug 27, 2015 15:03:46 GMT -5
And closed above those FIBs. I give up. Unless I were buying and selling every few minutes, this isn't trading. Hell, with roulette at least the wheel stops every now and then. VIX scams way green, and market way green? And ES went right back to the HOD?
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Post by dino on Aug 27, 2015 15:14:58 GMT -5
Something Doug Kass just wrote on Twitter may bring small comfort: "Remember how frightening it was buying Tuesday afternoon and consider how frightening it is shorting now." He is scaling in shorts here for obvious reasons. GL, man, hope you make a killing What's funny is that the majority of the time I post what I "feel" here the exact opposite happens. You guys should take note of that. lol. Up 3% so far but with a small position so I won't make a killing. But it's small enough that I don't mind holding to see if we really do test those recent lows. Worth the risk imo. Now that I've again made it known how I "feel", cue the reversal! LOL... Told ya! They're everywhere.
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Post by huh on Aug 27, 2015 15:22:46 GMT -5
Now I have to try to explain to friends why AAPL was in a high volume sell-off, and then suddenly jumped in the last 30 minutes. "Hell if I know" is the best I got - same reason absolutely everything else jumped I suppose
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Post by walnut on Aug 27, 2015 15:46:15 GMT -5
Even so, VIX being down 14% today while VXX is up 2.3% Has gotta make you wonder. The middle of the term curve where VXX sorta lies does not reflect this. I can only attribute it to- this ain't over yet. At least VXX holders don't think so. Institutions hedging with options bailed asap because who is comfortable holding gobs of ethereal options. But they are OK with hanging around in VXX a while longer.
I hope the correction is passing, but that big of a plunge leaves lots of ripples like a fat kid jumping into a pool, usually takes a few weeks to calm down.
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Post by novie08 on Aug 27, 2015 16:58:27 GMT -5
And closed above those FIBs. I give up. Unless I were buying and selling every few minutes, this isn't trading. Hell, with roulette at least the wheel stops every now and then. VIX scams way green, and market way green? And ES went right back to the HOD? VIX scams confirmed their scamminess. But kudos to Rick Ackerman (so far). Tomorrow/Monday is the tell as the Fed speaks and it's ME.
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