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Post by walnut on Feb 13, 2017 12:25:50 GMT -5
I'm wondering this too, like Herc sd you almost cannot out trade the scams, JUST STAY SHORT, why do I break my own rules... Walnut - how much are you up on your VXX short that you covered prematurely at 17.91? lol Didn't I always say -- "when it comes to the VIX SCAMs, stay short my friends!!" lmao -- Just kidding - that was an awesome trade and you could have simply taken the rest of the day off after taking profits. Always a good thing to take profits. But lets see if they hit the S&P SELL button later this afternoon At some point, VXX has to pop. Was just hoping it would today (this afternoon).
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Post by Herceg on Feb 13, 2017 12:27:26 GMT -5
Off to chow down some food and rest before work..............take care all and have a nice day !!!
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Post by theMist on Feb 13, 2017 12:29:22 GMT -5
I'm wondering this too, like Herc sd you almost cannot out trade the scams, JUST STAY SHORT, why do I break my own rules... Walnut - how much are you up on your VXX short that you covered prematurely at 17.91? lol Didn't I always say -- "when it comes to the VIX SCAMs, stay short my friends!!" lmao -- Just kidding - that was an awesome trade and you could have simply taken the rest of the day off after taking profits. Always a good thing to take profits. But lets see if they hit the S&P SELL button later this afternoon At some point, VXX has to pop. Was just hoping it would today (this afternoon). k. So assuming you would leave on a short VXX position on all the time -- how much short VXX would you leave on? Obviously, by me trading aggressively the VIX SCAMs, I've been able to beat any long term short TVIX, UVXY position I would have left on. I honestly would not be comfortable leaving on a short 50K TVIX position on all the time and If I left on a position all the time -- it would be real small...say 5k shares short TVIX at these prices. At least you have IB where you can be alerted or set up a conditional order in case markets crash overnight. I didn't have that luxury with Scottrade. Hence, one of the reasons why I'm switching to IB. And if you had followed all my aggressive, leveraged short SCAM trades -- how much more would you have been up as opposed to simply leaving on a small short SCAM position on all the time? Unfortunately, I know you don't have the time to sit and daytrade like I do. Also, what you said is easier said in hindsight BUT myself and other chartists whom I respect are looking for a little pullback, backtesting. And if S&P doesn't and continues screaming higher, that will not be good.
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Post by walnut on Feb 13, 2017 12:33:53 GMT -5
Yeah it is not an easy puzzle to solve. I should not complain, I made a lot of money. Like you say though, stay short my friend. It is true almost always. But I know what you mean about large positions, that is the trickiest part of the puzzle.
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Post by walnut on Feb 13, 2017 12:35:14 GMT -5
I really did think that VXX was going to bounce before noon today.
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Post by theMist on Feb 13, 2017 12:38:17 GMT -5
Yeah it is not an easy puzzle to solve. I should not complain, I made a lot of money. Like you say though, stay short my friend. It is true almost always. But I know what you mean about large positions, that is the trickiest part of the puzzle. In my case -- You can get burned REAL FAST if you leave yourself highly vulnerable over night. Once I setup IB, I will feel more comfortable leaving on a small short position on all the time. But honestly, I would wait until they pop a little before doing so. And I still will continue to daytrade shorting SCAMs aggressively. I could not have doubled my trading account balance since the Elections and I'm UP about $42k for this year so far. Not trying to pat myself on the back -- BUT I think I'm doing something right. lol
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Post by walnut on Feb 13, 2017 12:39:52 GMT -5
That is some amazing performance alright
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Post by theMist on Feb 13, 2017 12:40:55 GMT -5
Looks like S&P wants to test that rising green channel resistance and hit that S&P 2332ish ascending triangle target before pulling back.
But now, to backtest, S&P has to go all the way back to SP 2300.
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Post by walnut on Feb 13, 2017 12:41:19 GMT -5
I don't stay short all the time, and certainly not with $150k of stock. I am not that crazy either
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Post by theMist on Feb 13, 2017 12:42:44 GMT -5
I really did think that VXX was going to bounce before noon today. Me too and it would have been better for BULLs for S&P to pullback now and backtest rather than keep screaming higher. So now when they do hit the sell button - its going to have a little shock effect
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Post by walnut on Feb 13, 2017 12:42:51 GMT -5
Going to go get some lunch. I expect VXX to hit 18.06 in 15 minutes
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Post by theMist on Feb 13, 2017 12:44:26 GMT -5
Going to go get some lunch. I expect VXX to hit 18.06 in 15 minutes lol
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Post by theMist on Feb 13, 2017 13:00:28 GMT -5
CNBC -
S&P hits $20 Trillion in value for the first time
And markets setting all sorts of records
Even CNBC saying it feels like money managers are throwing out fundamentals and are just chasing performance. Just rushing to get in.
VXX 17.72
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Post by theMist on Feb 13, 2017 13:17:29 GMT -5
S&P very close to testing large RISING CHANNEL RESISTANCE
S&P 2329 as I type. I have ascending triangle target of SP 2332ish.
And S&P hasn't pulled back and hasn't backtested any of the breaks back at SP2300
S&P Daily candle looks to almost be completely outside its UPPER BB and at some point has to get back within the BBs.
VXX 17.64
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Post by theMist on Feb 13, 2017 13:22:49 GMT -5
Reminds me of Bugs Bunny and Yosemite Sam -- I dare you to step over this line...I dare you to step over this one...this one... lol Added 2 more descending channel lines VXX 15 min image hosting 10mb limit
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Post by theMist on Feb 13, 2017 13:23:22 GMT -5
BTW - almost forgot - tomorrow is VIX Futures expiry
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Post by theMist on Feb 13, 2017 13:37:25 GMT -5
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Post by walnut on Feb 13, 2017 13:52:41 GMT -5
I see that I was wrong, VXX did not go to 18.06.
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Post by walnut on Feb 13, 2017 13:54:54 GMT -5
Thanks MIST for the charts, believe it or not I have come to rely pretty heavily on TA and am really more of a trader than just stay short. BUT- VXX almost always goes down when I buy back, because that is what VXX does, go down.
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Post by walnut on Feb 13, 2017 13:57:51 GMT -5
I'd say on VXX I am 100% TA, because what else is there really.
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