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Post by theMist on Feb 13, 2017 13:59:46 GMT -5
S&P just HIT Ascending Triangle target, S&P green LARGE RISING channel resistance. That was the short term spot to hit the SELL button for S&P IMO images hosting
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Post by walnut on Feb 13, 2017 14:04:13 GMT -5
VIX index has not really fallen that much today. Futures are falling though, which has caused the contango number to drop to about 12.90
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Post by theMist on Feb 13, 2017 14:05:19 GMT -5
I'd say on VXX I am 100% TA, because what else is there really. To me TA is everything and obviously for what we trade (VIX SCAMs), knowing S&P direction is extremely important along with VIX Futures. But honestly, I'm not celebrating this move. I would have preferred S&P pullback w/backtesting. S&P and VXX are both leaving behind GAPs and not even backtesting breaks (SP 2300)! I have an email into my mentor, Jim Roof, to know his thoughts as well. Maybe he'll take the time out to reply or discuss it in his video this evening. He sees the same large Inverse H&S that I do BUT didn't see the Ascending Triangle that I did. We're both bullish longer term.
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Post by theMist on Feb 13, 2017 14:05:49 GMT -5
VIX index has not really fallen that much today. Futures are falling though, which has caused the contango number to drop to about 12.90 Tomorrow is expiry also
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Post by theMist on Feb 13, 2017 14:06:54 GMT -5
Looking back -- how many people were wrong about this market?! Even highly paid professionals got it wrong.
Kevin O'Leary is on CNBC as I type and he's been dead wrong as well as others...
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Post by walnut on Feb 13, 2017 14:13:53 GMT -5
Ha ha we both should have been in longer today, this was part of the ascending triangle breakout that we both knew was happening. No big deal, but I think should have waited for the second half of the scams move.
I know, hindsight is 20-20.
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Post by theMist on Feb 13, 2017 14:16:43 GMT -5
Looking at VXX Chart -- VXX may very well hit low 17s
But at some point in short term, SP has a date with SP2300 IMO
And S&P has gone vertical along with VXX in death spiral.
Depending on how fast the selloff in S&P -- that will gauge the rise in VIX SCAMs.
I still say VXX at least rises up to VXX 18.08 in short term.
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Post by theMist on Feb 13, 2017 14:19:32 GMT -5
Ha ha we both should have been in longer today, this was part of the ascending triangle breakout that we both knew was happening. No big deal, but I think should have waited for the second half of the scams move. I know, hindsight is 20-20. Yeah, we nailed the target BUT all along S&P has been pulling back / backtesting after breaking out. And this time S&P has gone vertical and hasn't even looked back -- leaving behind GAPs and not even backtesting. That raises a RED flag with me. I honestly would have preferred a slower move UP in short term.
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Post by walnut on Feb 13, 2017 14:27:42 GMT -5
Trump press conference in progress again
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Post by theMist on Feb 13, 2017 14:27:43 GMT -5
BTW - I bought another monitor for my setup -- same high def 27" ACERs. It just got delivered today. I got it for half price. Luckily, I went back to Best Buy over the weekend and the 2 monitors I bought were on sale for $499 instead of $599 (price I paid) SO they refunded me $200 and I got a 3rd ACER monitor for $499.
I also ordered from Amazon -- 2 vertical monitor racks so I can setup my 2 vertical monitors on left better. And I will setup 2 vertical monitors on right of TV.
Setup should be complete now
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Post by walnut on Feb 13, 2017 14:29:52 GMT -5
Wow, incredible setup
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Post by theMist on Feb 13, 2017 15:16:30 GMT -5
IB making me jump thru hurdles to open account.
Should have approved by today.
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Post by walnut on Feb 13, 2017 15:26:15 GMT -5
Are you wiring money to it? Otherwise takes a long time.
I have not had trouble with them ever, really easy.
If you need any support on the phone from the trading desk they are not exactly super friendly sometimes but they always got the job done. Their corporate culture is not exactly service with a smile.
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Post by theMist on Feb 13, 2017 15:26:21 GMT -5
Usual end of day pop in scams
CNBC saying how retail money coming in and market a tad bit overextended. lol
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Post by theMist on Feb 13, 2017 15:36:04 GMT -5
talk to you guys later
today and tomorrow not ideal trading days for me too many interruptions and stuff to take care of
also, still trying to get IB account opened up
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Post by walnut on Feb 13, 2017 15:37:39 GMT -5
Usual end of day pop in scams CNBC saying how retail money coming in and market a tad bit overextended. lol On that note I think I'm not going to sell any into the end of day pop if it comes, the SP-500 is above the trend line that I was watching and seems like it really might be over bought.
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Post by theMist on Feb 13, 2017 15:41:32 GMT -5
S&P Daily chart So you can see how the channel looks -- I've uploaded a zoomed out pic as well as zoomed in. S&P pulled back at resistance and didn't blow out above it so far. zoomed out free uploadzoomed in image upload
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Post by theMist on Feb 13, 2017 22:27:02 GMT -5
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