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Post by clinton on Jan 23, 2017 10:26:33 GMT -5
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Post by theMist on Jan 23, 2017 10:33:30 GMT -5
S&P Daily and Hourly Chart -- S&P needs to fall off a cliff with hard prolonged selling for a few days to pop the VIX SCAMs real hard. Maybe this time around it will be the start of the real pullback in S&P and not another head fake. DI lines look like they want to cross bearish and MACD and MACD Histogram are still bearish. Weekly MACD and MACD Histogram also look like they want to start to rollover. S&P Hourly
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Post by novie08 on Jan 23, 2017 10:49:09 GMT -5
GS and BAC finally turned red. Is anyone looking at buying as that ITMS vid suggested? i.e., BAC @18.50 or so and JPM @79ish. Of course in the meantime, you could short them to those targets.
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Post by clinton on Jan 23, 2017 10:55:16 GMT -5
TLT and GLD jumping again weeeeeeeeeee
(GLD and TLT dont rally for no reason LOL)
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Post by clinton on Jan 23, 2017 11:00:22 GMT -5
RSX green
no surprise there
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Post by theMist on Jan 23, 2017 11:07:24 GMT -5
Just shorted 10k tvix for quick daytrade. Looks like that pop wants to rollover. S&P also hitting support and bouncing. Just added a little more short TVIX -- 14k now. Leaving lots of dry powder. Shorting the pops VIX SCAMs for daytrading / scalping still a safe bet. IMO. Contango curve not even budging so far with this selloff. We'll see. Keeping mental stops. Still have to be careful in case selling in S&P picks up steam. Currently TVIX trading at 6.24 VXX 5 min
VXX 15 min
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Post by theMist on Jan 23, 2017 11:30:34 GMT -5
S&P DI lines just crossed bearish, ADX is still dropping down (indicating big move coming). DI lines can stay that way for 2 more weeks before the real selloff and can even recross back over bullish. DI lines crossing back and forth usually happens with sideways S&P action and the indicator becomes useless. Have to see how S&P closes today. But I do think were very close to real pullback in S&P -- could happen within next 2 weeks. IMO
Still holding TVIX short (6.25 avg). Keeping mental stop. I still think TVIX, VXX, rollover one more time before end of day. We'll see...
Not a good trade so far - TVIX currently at 6.39. Still holding for now
Shorting some more but need to be careful
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Post by theMist on Jan 23, 2017 11:55:50 GMT -5
Trump on CNBC signing Executive Order on TPP. I think he's making markets nervous. lol
Now short 28K TVIX. Brought my avg up. Keeping close eye on it and being careful. TVIX currently at 6.37
He's moving fast and markets getting nervous. Going to start a trade war
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Post by theMist on Jan 23, 2017 12:12:50 GMT -5
Watching to see if VXX, TVIX, put in topping candle (for today) on 15 min chart. No topping candle but starting to rollover a little.
Good spot to short SCAMs for daytrade. Can keep mental stop above HOD (TVIX 6.43) if low risk tolerance
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Post by theMist on Jan 23, 2017 12:26:19 GMT -5
VIX SCAMs should be red again. So far so good with averaging in TVIX 28k short. Currently at 6.32 now
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Post by theMist on Jan 23, 2017 12:33:14 GMT -5
Nice! Nice! Come on my babies! Drop deep red for theMist!
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Post by theMist on Jan 23, 2017 12:57:45 GMT -5
Taking some profits when TVIX takes another leg lower and hits around 6.18 (thinking possible bounce in that area). VXX, TVIX looks to have formed H&S (head at HOD) and is still completing pattern. Currently TVIX trading at 6.25 and should take another leg lower...
By end of day could see TVIX test new all time low (6.10) again. Have to be careful going into final hour though. Regardless, I will be out of position completely by EOD.
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Post by theMist on Jan 23, 2017 13:03:51 GMT -5
Love when Trump says "PHARMA!" "BIG PHARMA!" Lot of Lobbys. roflmao
Where is everybody? lol
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Post by theMist on Jan 23, 2017 13:05:05 GMT -5
theMist is cooking with GAS now!!
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Post by theMist on Jan 23, 2017 13:09:42 GMT -5
Now I'm taking profits when TVIX hits 6.18 area and will be pretty much be completely out of the short TVIX position. I may start taking a little profits now (TVIX currently at 6.22). I'm thinking TVIX, VXX bounces in that area (TVIX 6.18, VXX 20.68) and could bounce hard and VXX could bounce back up to 20.87 after tagging 20.68 area before reversing again and collapsing back down. It would make for a cleaner H&S pattern. Even if we get that bounce at support and then reverses, SCAMs should still retest low by end of day. Just trying to contemplate the next short term move after TVIX hits 6.18. VXX 15 min indicators look like price action still want to roll lower after that tag of support. VXX 5 min VXX 15 min
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Post by theMist on Jan 23, 2017 13:31:36 GMT -5
TVIX tagged 6.20 twice. It's hitting some support in that area and struggling little to get to 6.18. Good spot to take profits for TVIX, VXX short in case we bounce a little in this area instead of waiting for TVIX 6.18. TVIX currrently at 6.21
Yep - SCAMs broke right through lower - didn't even bounce. lol
Still have some short TVIX.
New all time low coming up. IMO
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Post by theMist on Jan 23, 2017 13:46:18 GMT -5
VXX 1 min chart These are some of the issues I deal with when daytrading the VIX SCAMs and when watching very small timeframes. TVIX fell off cliff at 6.18. Fstockcharts showing it made a GAP. Most of the time Fstockcharts makes mistakes and there really isn't a GAP there. So case and point, if there is a GAP there then TVIX will definitely backtest 6.18. If there is no gap there, TVIX can simply continue lower without backtesting 6.18. Either way it can still backtest 6.18 its just practically guaranteed with gap there. I know these small moves don't make a much of a difference to most traders BUT when you are shorting 30-40K shares, these small moves mean a lot. I was short 30k TVIX earlier. Now only short 5k TVIX.
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Post by theMist on Jan 23, 2017 13:54:36 GMT -5
And there's your TVIX backtest of 6.18 and it turns out the GAP was a mistake by Fstockcharts. lol Now the question becomes which way from here. As I type TVIX broke above 6.18 and is now at 6.21. Good move so far taking profits. Waiting, watching now...
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Post by theMist on Jan 23, 2017 14:09:20 GMT -5
Why is that when I contemplate every small move in TVIX, Dos Equis guy keeps popping up saying... When it comes to the VIX SCAMs, STAY SHORT MY FRIENDS! lol
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Post by theMist on Jan 23, 2017 14:29:32 GMT -5
TVIX just bounced to 6.30. Good spot to reshort. ttyl I think everyone disappeared. lol
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