|
|
Post by huh on Jan 3, 2017 10:20:26 GMT -5
Gotta run. BOL today, all!
|
|
|
|
Post by walnut on Jan 3, 2017 10:24:55 GMT -5
I've got a buy order for UVXY when VXX hits its long term downside target. I know I'll likely be alone in that trade - and that means I'll likely suffer alone as well.  What target is that? and what does that translate on vxx? |
|
|
|
Post by huh on Jan 3, 2017 10:33:22 GMT -5
I've got a buy order for UVXY when VXX hits its long term downside target. I know I'll likely be alone in that trade - and that means I'll likely suffer alone as well. What target is that? and what does that translate on vxx? VXX ~23 [ link to chart] |
|
|
|
Post by novie08 on Jan 3, 2017 10:37:14 GMT -5
Would there be reason to short XIV instead?
|
|
|
|
Post by theMist on Jan 3, 2017 10:43:43 GMT -5
If we hit all time lows today like I expect and then VIX Scams GAP down again tomorrow forming another Breakaway GAP, I wouldn't think of going long the SCAMs right now. Contango is at 12% and VIX is dropping
I see TVIX trading at $6-$7 range by end of next week. As for S&P, S&P hit resistance at Apex of Sym Triangle and has to recoil and breakout above it.
For now, Stay Short the Scams my friends!
And as always, have to make MOVEs with the CHARTS.
|
|
|
|
Post by walnut on Jan 3, 2017 10:47:28 GMT -5
Yeah, I think that there is some support at 23 on VXX too but I am thinking like Mist, I would not have any plan to buy the scams. I am thinking VXX goes well below 23 before any worthwhile bounce.
|
|
|
|
Post by walnut on Jan 3, 2017 10:49:03 GMT -5
Would there be reason to short XIV instead? Being long the scams in any way (short XIV) is not where you should be thinking right now at all JMO |
|
|
|
Post by novie08 on Jan 3, 2017 10:51:04 GMT -5
Would there be reason to short XIV instead? Being long the scams in any way (short XIV) is not where you should be thinking right now at all JMO Thx. Meant IF long as Huh suggested. Not planning to trade ag. you and the MIST, lol! |
|
|
|
Post by walnut on Jan 3, 2017 10:52:45 GMT -5
Just hate to see you throw any money into the fireplace haha If I can do anything about it
I could be wrong tho, this is just The Mists VIX casino after all
|
|
|
|
Post by theMist on Jan 3, 2017 11:09:09 GMT -5
lol Walnut  S&P sold hard after hitting that APEX. That's the only time VIX Scams will rise (when S&P sells hard). As soon as S&P hits SUPPORT or RISES, VIX SCAMs drop back down like a brick. Will be very IMPORTANT to see how S&P CLOSES today |
|
|
|
Post by novie08 on Jan 3, 2017 11:20:40 GMT -5
According to my charts on Scott, UXVY hit 7.63 three times for a possible triple bottom. Got out at 7.66, just practicing, was hoping for $.40/share but didn't risk it, $132 net on 400 shares. Thanks so much Mist.
|
|
|
|
Post by theMist on Jan 3, 2017 11:21:55 GMT -5
That's fine Novie. Awesome trading. Taking profits is ALWAYS a good thing.
SCAMs should start to turn back down now after bouncing. Just a matter of time before hit new ALL TIME LOWs
|
|
|
|
Post by novie08 on Jan 3, 2017 11:23:38 GMT -5
On another note, metals are just rockin' it, gold lagging tho. And since when does the $ trade WITH oil?
|
|
|
|
Post by clinton on Jan 3, 2017 11:31:48 GMT -5
fwiw
|
|
|
|
Post by theMist on Jan 3, 2017 11:32:11 GMT -5
Shorted some more UVXY on that bounce. Now 26k short. Will lighten up before EOD.
|
|
|
|
Post by walnut on Jan 3, 2017 11:33:15 GMT -5
I shoulda shorted some more too, I have the conviction haha
|
|
|
|
Post by theMist on Jan 3, 2017 11:39:54 GMT -5
Still gotta exercise caution and I watch my positions like a hawk keeping mental stops. I could never put on Auto Pilot.
Remember when Hillary FBI email news hit before the Elections. That was a fast move down in the markets and SCAMs flew to the upside. Of course only a few days later to fall back down to new lows.
Can never be complacent. Markets, charts, can always turn in a blink. Not saying its going to happen. But always good idea to be cautious and taking profits never a bad idea.
I don't like the way the S&P hit hard resistance at the Apex and reversed. But just a matter of time before SCAMs drop to new lows.
|
|
|
|
Post by walnut on Jan 3, 2017 11:44:33 GMT -5
That is why I reduced position size a little this fall and began selling and holding longer term. The scams always drop if you can afford to wait out the little bumps.
|
|
|
|
Post by theMist on Jan 3, 2017 11:47:27 GMT -5
Walnut - have you figured out a really good hedging method for the SCAMs to protect profits ?
Still short the SCAMs
|
|
|
|
Post by walnut on Jan 3, 2017 11:51:05 GMT -5
Sadly, the best I have come up with (and I have looked at every combination that exists) is to just lighten up your position sizes and stay short. Get out before the crash haha that is the best I know of.
|
|
