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Post by theMist on Dec 29, 2016 10:27:06 GMT -5
S&P forming bear flag. I expect a nice move lower this afternoon and scams to pop real nice then. Have to be patient.
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Post by theMist on Dec 29, 2016 10:32:02 GMT -5
Love how the scams are trading up with markets up! Wonder why?!
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Post by theMist on Dec 29, 2016 11:01:21 GMT -5
VIX scams filling the upside Breakaway GAPs is a GUARANTEED move. Should happen today or tomorrow the latest. If long, I would get out as soon as they are filled. They can overshoot a little but very dangerous to hold past the GAP fill. I would start averaging in and nibbling short position above the upside BREAKAWAY GAPs. We could even get a little more selling in the markets tomorrow or into first week of January.
VXX minimum target 25.45-25.55
However, that Red Hollow Bottoming Hammer Candle means that at some point the VIX scams will drop back down below it to NEW ALL-TIME LOWs.
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Post by walnut on Dec 29, 2016 11:31:45 GMT -5
Market still headed down?
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Post by theMist on Dec 29, 2016 11:53:23 GMT -5
I only GUARANTEE moves in the SCAMS. lol
But I do see the S&P pulling back a little more. Charts showing more pullback for now. S&P bouncing off 20dsma on Daily chart as I type. I see the S&P pulling back at minimum to 2200-2230 area. I know its not much of a call BUT overall I am still very Bullish on the markets with the iH&S target for S&P at 2450 area.
S&P should sell today and tomorrow with that HUGE PENSION Fund Rebalancing PLUS we're in the tax selling zone. Some investors who don't know how to do math are possibly waiting until first week in January to sell. First week in January will definitely be interesting. IMO
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Post by walnut on Dec 29, 2016 11:58:26 GMT -5
That market began it's second "hump" of its bearishness last year on Dec 30.
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Post by theMist on Dec 29, 2016 12:00:50 GMT -5
Walnut, Herceg - are you long VXX, UVXY, TVIX for a little more upside move?
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Post by clinton on Dec 29, 2016 12:05:39 GMT -5
David Brat(R) our congressman that replaced Cantor has promised a balanced budget this year in his email he sent out.
Trump and wall street thinks he going to get to spend. hehe we shall see who wins this battle.
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Post by walnut on Dec 29, 2016 12:13:23 GMT -5
Walnut, Herceg - are you long VXX, UVXY, TVIX for a little more upside move? Having trouble bringing myself to it. I usually just short the scams. The times I have lost serious money is when going long.
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Post by walnut on Dec 29, 2016 12:15:34 GMT -5
Should have done it...
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Post by theMist on Dec 29, 2016 12:20:46 GMT -5
I hear ya Walnut but keep in mind now what I posted about Breakaway Gaps under the VXX Minding the Gaps thread. BREAKAWAY GAPS ALWAYS get filled. For the scams it can take at most 1-2 weeks. It's a guaranteed move. Now you know for the next time. The only thing is that being long the scams you sometimes have to stomach some serious swings which can get a trader all emotional and cause them to lose trust in the Charts and make foolish decisions. Of course, if your playing with house money its a lot easier stomaching the swings. As soon as the upside GAPs fill, I'm completely out of my long UVXY position and will switch my bias back to reshorting. Don't worry, we're going to make a FORTUNE shorting VXX, TVIX, UVXY back down to zero!
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Post by Herceg on Dec 29, 2016 12:44:56 GMT -5
Walnut, Herceg - are you long VXX, UVXY, TVIX for a little more upside move? No I am not, took loss on KATE short after it spiked on me...............would like to add to my UVXY short but sitting on what I have for now waiting to see if it spikes over the next few weeks............ JMO and BOL.......
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Post by clinton on Dec 29, 2016 13:04:30 GMT -5
GORO el Toro
Im unlosing money at an amazing rate. hehe
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Post by theMist on Dec 29, 2016 13:43:37 GMT -5
BTW - Speaking of BREAKAWAY GAPs. Take a look at DRYS Daily Chart. You think it was a coincidence that it went from $4 to $102? It made a breakaway GAP from $123ish to $87 back in June. Just last month it skyrocketed from $4 to $102. lol I really believe it was gunning for that BREAKAWAY GAP and would have filled it if they didn't step in and HALT it. Could you imagine making a FORTUNE shorting DRYS from the 100s and still be ALL IN when it was at $4 to watch yourself get destroyed as it skyrocketed back up to $100. lmao The BOTS never forget and don't like UNFILLED BREAKAWAY GAPs. With stocks I've seen BREAKAWAY GAP fills take sometimes months, years... However, with volatility, like I've said, BREAKAWAY GAPs usually fills within 2 weeks.
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Post by theMist on Dec 29, 2016 13:56:56 GMT -5
FLY my Babies! FLY! Almost there!
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Post by jacksrbtr on Dec 29, 2016 14:04:52 GMT -5
Dunno why Continental Gold is up +9% (unless its the announcement that the insurrection with the FARC rebels is over in Colombia) but I LIKE IT!
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Post by theMist on Dec 29, 2016 14:51:33 GMT -5
That's the frustration being long the SCAMs. lol VXX came within 11 cents of filling the gap to 25.45. The gap acted as resistance so it needed to pullback and consolidate just under it before it makes another push higher. Could be tomorrow. We'll see what final hour brings.
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Post by walnut on Dec 29, 2016 15:05:39 GMT -5
Yeah it's tricky and it's tough.
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Post by walnut on Dec 29, 2016 15:44:27 GMT -5
No real change in the overall contango curve so as of now this does not look to be any significant correction forming. That contango curve seems to have a way of knowing and forecasting real trouble a little in advance IMO.
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Post by theMist on Dec 29, 2016 15:59:34 GMT -5
Which is why its amazing that VIX scams are even rising at this point. If you didn't know about the upside gaps, you would be perplexed as to why they are rising (Trading Broken). lol I do expect the upside gaps to fill but holding a long position after that is extremely dangerous. Will look to reshort just above the gaps. IMO
ttyl
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