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Post by theMist on Jan 12, 2017 11:21:52 GMT -5
S&P 15 min Chart
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Post by walnut on Jan 12, 2017 12:04:06 GMT -5
Bloomberg lady just said " caution enters back into the market as investors try to figure out everything that has been going on in the world". I say, no, that's not it, it really is just about the stock charts ha
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Post by theMist on Jan 12, 2017 12:07:08 GMT -5
S&P rising back up to neckline again...Bear flagging
Definitely tough being long SCAMs with wild swings...need a lot of patience
Easier to play pullback by shorting spy
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Post by theMist on Jan 12, 2017 12:32:28 GMT -5
S&P 15 min chart. Throwback to neckline. At some point, should turn back down hard.
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Post by theMist on Jan 12, 2017 12:59:28 GMT -5
CNBC - Bulls piling into Silver
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Post by jacksrbtr on Jan 12, 2017 13:01:48 GMT -5
That guy sure wuz a pistol! lolol But having a heart attack is no fun believe me. I had mine 4yrs ago and was lucky to have survived it. They said if I hadn't been in such good shape i wouldna made it. I never said "The Lords Prayer" so many times in my whole life as I did in the ambulance on the way to the hospital. Do EVERYTHING you can to find out if you have any atherosclerosis in your arteries and take action GL.
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Post by walnut on Jan 12, 2017 13:38:44 GMT -5
I hope this pull back has more to go
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Post by theMist on Jan 12, 2017 13:40:41 GMT -5
VIX SCAMs look like they want to roll over red. I still see them trending down and we're looking for a real quick spike back up (counter to its trend).
Even if you catch an 8% move to upside like today, they fade real fast when S&P hits support and with normal contango curve.
I'm going back to my normal way of trading them which is to daytrade them only and short the pops.
However, the spike will happen just a matter of time but need to stomach serious swings if long VXX, TVIX, UVXY and another possible small leg lower.
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Post by theMist on Jan 12, 2017 13:45:39 GMT -5
I hope this pull back has more to go In the BIG PICTURE, its a small pullback and not fast enough to generate REAL fear. So far from what I see. Maybe, it will pick up with an overnight move. I know the spike and upside VXX GAP fill will happen, just a matter of time but difficult to time. I am still bullish on S&P longer term with that large inverse Head & Shoulders target SP2450. These small pullbacks are just ripples. IMO I just don't see the big one...at least yet but trying to Hate to say it but today's 8% pop in VIX SCAMs was an excellent daytrade short opp When VXX 21.63 broke and didn't hold, I switched back to my normal way of trading them and will stick with it which is ONLY SHORT THE SCAMs. Like I've been saying all along - the trade is far more forgivable even if spikes against you. Keep an eye on VXX 21.35 all time low - I bet now it gets taken out and VXX goes down 20-21 range UNLESS we get an overnight move. Probably saving the big one for next week (inauguration day) like Jack said. I just don't see the big one for now and hope isn't a tradeable pattern.
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Post by theMist on Jan 12, 2017 14:23:04 GMT -5
VXX Hourly looks like it wants to rollover. Look at MACD and MACD Histogram. And VXX BEAR FLAG forming It's going to take time for the quick spike back up to fill that GAP UNLESS we get an overnight crash. Very difficult to time. Contango curve looks more normal than ever even with todays selloff.
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Post by theMist on Jan 12, 2017 14:42:36 GMT -5
That throwback over neckline took the air out of the VIX SCAMs
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Post by theMist on Jan 12, 2017 15:25:17 GMT -5
VIX SCAMs are going to take another leg lower now IMO. UNLESS we get a major selloff overnight and soon. It will take some time for that upside gap to get filled but if you don't time perfectly this is what happens.
I will be holding no positions overnight long or short and switched back to daytrading /scalping
Contango is even rising back up a little from what I see. Walnut? You agree? Curve looks more normal than ever.
And now that I capitulated its free to open up 30% higher tomorrow. lol. Just kidding. That would take a crash overnight and highly unlikely.
Bull Market is so resilient and that inverse Head and Shoulders on S&P measures SP2450.
Even if S&P sells off overnight and VIX SCAMS pop up tomorrow - then the smart move is to look to short the pop tomorrow being mindful of the gap of course.
BTW - VXX is a little over due for at least a green close.
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Post by theMist on Jan 12, 2017 15:59:45 GMT -5
Market BUY Imbalance going into close
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Post by walnut on Jan 12, 2017 16:20:08 GMT -5
Been painting windows in the 35' getting ready for the 5" of freezing rain tonight.
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Post by walnut on Jan 12, 2017 16:21:25 GMT -5
As low as VXX seems to get, it's about to go $5 lower, always ha ha
edit - ALMOST always
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Post by theMist on Jan 12, 2017 16:28:34 GMT -5
Updated S&P 15 min chart. Talk to you guys later
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Post by theMist on Jan 12, 2017 16:31:27 GMT -5
As low as VXX seems to get, it's about to go $5 lower, always ha ha edit - ALMOST always lol You had it right the first time.
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Post by novie08 on Jan 12, 2017 17:59:43 GMT -5
CNBC - Bulls piling into Silver This is a flat out lie. It can't even get to $17.
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Post by huh on Jan 12, 2017 20:01:25 GMT -5
This isn't a bull market. It's a freakin' zombie market. Every time you think it'll stay down, it gets right back up and wants to eat you.
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Post by theMist on Jan 12, 2017 20:04:29 GMT -5
That was an unbelievable move today
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