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Post by walnut on Jan 11, 2017 15:10:51 GMT -5
I hate to say it but there is nothing really to keep VIX from dropping all the way to 11 in the next few days and it would take VXX down with it. I think the market is all about technicals for the next several days. Waiting to see what you guys think
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Post by walnut on Jan 11, 2017 15:18:50 GMT -5
Thx Walnut It's going to take more time and probably will happen with overnight move when no one expects it. S&P is still topping out. What is daily rate? still same 1/2 percent? Yeah its still the same |
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Post by jacksrbtr on Jan 11, 2017 15:19:08 GMT -5
Continental currently up 5-6% under steady buying all day I guess cooler heads are prevailing. I'm a "one-trick pony" around here sorry about that.  |
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Post by theMist on Jan 11, 2017 15:27:36 GMT -5
I hate to say it but there is nothing really to keep VIX from dropping all the way to 11 in the next few days and it would take VXX down with it. I think the market is all about technicals for the next several days. Waiting to see what you guys think I agree that in short term VIX and VIX SCAMs can still drop because S&P is still forming the RS of now larger Head and Shoulders (and still needs confirmation with break below neckline). Only selling pressure in markets makes VIX SCAMs spike up. I strongly feel its going to make its move with an overnight move. IMO SCAMs could even still take another week (and possibly drop lower in short term) before filling that upside GAP. It is definitely a difficult trade (long SCAMs) to try and time it and is far easier to reshort spike. |
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Post by theMist on Jan 11, 2017 16:07:43 GMT -5
Still holding... Huh, how far up do you see this RS forming? I see it just about there - maybe a little more upside. S&P move back up over 2282 negates the pattern IMO and this whole thing turns into a continuation pattern. But I doubt that will happen but open to it. And this S&P pattern with downside target needs to be confirmed with move below neckline. I have a feeling we will see a gap down in markets overnight and into tomorrow. Been looking for overnight selloff for a few days now. Also, the final hour move was a buy imbalance going into close. S&P 15 min chart  |
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Post by jacksrbtr on Jan 11, 2017 16:26:02 GMT -5
I can't believe it but Trumps strong press conference actually seemed to give this market a second wind. Like I said 5-6wks ago they will suck in all the peeps up until the Inauguration and THEN they will pull the plug. That reminds me I gotta transfer $dough for trading into E*Turd. |
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Post by theMist on Jan 11, 2017 16:29:26 GMT -5
I can't believe it but Trumps strong press conference actually seemed to give this market a second wind. Like I said 5-6wks ago they will suck in all the peeps up until the Inauguration and THEN they will pull the plug. That reminds me I gotta transfer $dough for trading into E*Turd. Your probably dead on with that call Jack!  |
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Post by novie08 on Jan 11, 2017 16:51:38 GMT -5
Mkt. took a nosedive when Trump came on...................Up huge since election but just a reminder..............mkt. up 8% when Reagan elected followed by 20% decline in first year......................deja-vu possible............... Thanks for the reminder. Very likely scenario imo but depends on many factors...I've been waiting for a real correction for months and months with a long buy list.  |
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Post by novie08 on Jan 11, 2017 16:53:04 GMT -5
Continental currently up 5-6% under steady buying all day I guess cooler heads are prevailing. I'm a "one-trick pony" around here sorry about that. We want to hear your news so please continue to post...good day, what I said yesterday seems to have panned out. Should have added, lol. Isn't hindsight wonderful? Gold knocking up ag. $1200 again, will she make it? And what will you be trading Jack? |
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Post by theMist on Jan 11, 2017 17:48:05 GMT -5
Rethinking possible moves. Worse case if VXX squeezes lower to 20-21 range and the longer that gap goes unfilled, the BIGGER the spike and I believe will overshoot the gap by quite a bit. I took a gamble today and added a little more UVXY before getting confirmation of double bottom and paid the price. Sitting on small lose and STILL HOLDING but may jettison out of trade and then look to re-enter at another time or simply short the spike back up. The easier trade. The funny thing is my 2 week (give or take a few days) to fill the BREAKAWAY GAP almost lines up with Inauguration Day. lol S&P 15 min chart - possible moves in white. Can still go either way. I'm looking and hoping (key word hoping) for the quicker move down OR we get another retest of highs and DOW 20K. I'll be watching futures very carefully this evening.  |
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Post by jacksrbtr on Jan 11, 2017 18:46:05 GMT -5
Continental currently up 5-6% under steady buying all day I guess cooler heads are prevailing. I'm a "one-trick pony" around here sorry about that. We want to hear your news so please continue to post...good day, what I said yesterday seems to have panned out. Should have added, lol. Isn't hindsight wonderful? Gold knocking up ag. $1200 again, will she make it? And what will you be trading Jack? Sorry Novi - I used "trading" loosely. My MO is buying something as a "trade" but it winds up becoming a multi-year "investment". Case in point is my Alibaba buy a couple years ago which just made a break-even for me. |
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Post by theMist on Jan 11, 2017 19:15:00 GMT -5
I just signed up for our certain possible CAMEO Guest's sight the other day. It's funny because he's rethinking things also and sees the same 2 possible moves as I do. Funny how he mentions small H&S pattern after I emailed him last night. Anyway, I hope he stops by to say hello but I doubt it. Here is the video |
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Post by huh on Jan 11, 2017 21:38:28 GMT -5
...Huh, when do you expect the S&P to break down? Oh, about 2 years ago. Bwahahaha |
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Post by novie08 on Jan 11, 2017 21:41:13 GMT -5
Gold bumping against 1200 again tonight...can it push through?
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Post by theMist on Jan 11, 2017 21:43:36 GMT -5
...Huh, when do you expect the S&P to break down? Oh, about 2 years ago. Bwahahaha Lmao. I'm probably off by same timeframe. Lol |
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Post by huh on Jan 11, 2017 21:45:28 GMT -5
Today's action sure didn't look bearish, did it? Although DJI filled that common gap, S&P's late day move looks as if it wants to head test that small H&S. That would likely get S&P a slightly higher high and that Dow 20,000. Also, look at what VX_F did:  Fell through previous support, came back up and backtested it. VXX did the exact same thing. On the bright side for bears, S&P critical support now climbs to ~2272.50, and VXX critical resistance drops all the way down to 21.63. A break of either of these and market rolls over IMO. But could see higher until one of those happens. I agree with you though, Mist. One of these days market will probably open lower. And with these critical supports rising like they are, once it starts down, it'll likely be a doozy. |
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Post by huh on Jan 11, 2017 21:51:01 GMT -5
I look at it this way - market either needs to go (more?) parabolic , or start a swan dive.
Once it rolls over, I'll post a chart of what I see in VXX. I don't think its next pop will be a typical pop. I think it'll be a multi-bagger. But keep an eye on VXX 21.63. Once over that, even if with a gap up, and it should climb fast. But until that happens, could easily see ~20.88
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Post by theMist on Jan 11, 2017 21:53:20 GMT -5
I came very close to exiting out of trade on that backtest VXX 21.63. Still might and rejoin later. Not good day. Few head fakes. Didn't get confirm of double bottom VXX and added prematurely
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Completely agree. Can see VXX hitting upper BBS.
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Post by huh on Jan 11, 2017 21:58:05 GMT -5
I added to UVXY late in the day with an auto trade. Had I been watching I might have canceled it. But we'll see what happens tomorrow. 5% more possible to the downside, but only 2% higher from here and it could go ballistic IMO.
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Post by walnut on Jan 11, 2017 22:02:39 GMT -5
I would love that.
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