|
Post by theMist on Jan 4, 2017 15:57:39 GMT -5
They're headed a little lower for now Novie BUT did leave behind a BREAKWAY GAP this morning. This could possibly be a repeat of 2 weeks ago.
At some point within the next 2 weeks, SCAMs will rise back up and take out todays GAP DOWN (BREAKAWAY).
|
|
|
Post by theMist on Jan 4, 2017 16:01:49 GMT -5
Pic looks AWESOME!
|
|
|
Post by jacksrbtr on Jan 4, 2017 16:03:16 GMT -5
Did you reshort some VXX? Just saw your post. Learning to reshort VIX SCAMs and chase them to the downside is the last fig leaf to come off. lol In all seriousness, just keep a small short VXX position on at all times keeping a lot of gun powder. That's fits perfectly with your trading style. I'll do better, but "Primum non nocere" Oh yeh? "Carpe parsitare!!!"
(translated loosely means "Seize the pastrami!")
|
|
|
Post by novie08 on Jan 4, 2017 16:10:52 GMT -5
They're headed a little lower for now Novie BUT did leave behind a BREAKWAY GAP this morning. This could possibly be a repeat of 2 weeks ago. At some point within the next 2 weeks, SCAMs will rise back up and take out todays GAP DOWN (BREAKAWAY). So UVXY will see at least 7.50 so hope I'm watching then and can short that day...thanks for your patience.
|
|
|
Post by walnut on Jan 4, 2017 16:21:26 GMT -5
Anyway, at least there is this pretty blonde girl-
|
|
|
Post by walnut on Jan 4, 2017 16:22:34 GMT -5
Jack, don't forget- 'Carpe Nubm' "seize the nub"
|
|
|
Post by theMist on Jan 4, 2017 16:23:01 GMT -5
Target UVXY 7.47 to be exact but may have to stomach more downside in UVXY before it reverses back up to FILL today's BREAKAWAY GAP. Smarter move is to wait to reshort UVXY above that GAP 7.47.
|
|
|
Post by jacksrbtr on Jan 4, 2017 16:30:39 GMT -5
Why do I feel the need of a nickel? Bwahahahaaaa!
|
|
|
Post by jacksrbtr on Jan 4, 2017 16:34:46 GMT -5
Jack, don't forget- 'Carpe Nubm' "seize the nub" Bwahahahahaaaaaa!
|
|
|
Post by theMist on Jan 4, 2017 16:45:46 GMT -5
I'll talk to you guys later. Another AWESOME trading day!
|
|
|
Post by walnut on Jan 4, 2017 17:38:58 GMT -5
Glad you liked it lol I know you did real well. just sold some VXX in AH at 22.55 after it bounced at end of the day. Might take a while to make good on this one
|
|
|
Post by theMist on Jan 4, 2017 18:17:09 GMT -5
Was trying to get you to reshort some earlier, when UVXY was just over 7 and then when it was trading in the 6.90s making a bear flag which obviously broke down lower to 6.57 lod
That's ok. Should still be a little more downside. BTW - I posted on VXX Minding the Gaps thread.
How much VXX did you short?
|
|
|
Post by walnut on Jan 4, 2017 18:28:56 GMT -5
Just 3000. I've already got a buy order in, maybe I can be out again when I'm eating dinner ' Really just ought to keep some short 24/7. It's always going down except when it isn't
|
|
|
Post by theMist on Jan 4, 2017 19:09:42 GMT -5
IMO - I would wait until at least after the upside GAP fill to be short 24/7. Also, if we get another close or two outside of the lower BBs on daily, VXX is going to skyrocket back up (possible move to $25-$27). BUT THIS IS REAL EARLY TO CALL. See my post under VXX Minding the GAPs
The idea of me going short earlier this afternoon (and hopefully you) was to take profits by close (which I did). I just have a few shares left in AH which I'm also closing out. I was short about 19k shares in UVXY with 6.97 Average. It was a nice move down to 6.57 lod and closed out bulk of position around 6.70. Made a few Gs.
Can still move a little lower in short term - BUT you have to exercise caution because it left behind a BREAKAWAY GAP this morning and also closed outside its lower BBs on Daily Chart. Obviously long run you'll be fine. BUT once SCAMs leave behind a BREAKAWAY GAP, I'm only daytrading /scalping. No positions overnight.
I'll be in cash overnight. Plenty of time tomorrow in premarket or cash session to initiate a trade. I wouldn't be initiating a short VXX trade at the all time lows in AH. Sounds like your making the trade out of emotion because you missed the late afternoon run today. Of course I could be wrong and they gap back down tomorrow but risk/reward isn't worth it. Keep in mind its also a short week.
IMHO
And BTW - no more Chick-fil-a for you! lol
|
|
|
Post by walnut on Jan 4, 2017 19:53:06 GMT -5
Yeah I decided to wait, got out with a tiny profit. Thanks
And that Chick-fil-a is good stuff
|
|
|
Post by walnut on Jan 4, 2017 19:58:53 GMT -5
Better to have all powder dry for the next coming set up, need to look at these gaps again and hope for the best.
|
|
|
Post by birthmark on Jan 4, 2017 19:58:59 GMT -5
Hey MIST--
DO you ever play SVXY (it's the inverse of UVXY)?
Love your posts too.
GL
|
|
|
Post by clinton on Jan 5, 2017 0:29:42 GMT -5
gold looking hot tonight weeeeeeeeeeeeeee
|
|
|
Post by theMist on Jan 5, 2017 7:55:57 GMT -5
Thx Birth - I forgot all about SVXY.
Good to know if there are no shares to short of UVXY or TVIX. Thankfully I usually have no problem getting shares to short them. But does happen sometimes in premarket from 6am-7am EST. I believe Scottrade's Trading desk gets in around 7am EST and they know automatically to start getting shares of UVXY, TVIX to short. UVXY is usually more available to short than TVIX.
|
|