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Post by walnut on Feb 15, 2017 14:41:32 GMT -5
Contango below 10 now. I am going to be careful
(based on last trades, 9.8. vixcentral shows over 10 but they are wrong.)
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Post by theMist on Feb 15, 2017 14:44:25 GMT -5
I'm out with a profit
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Post by walnut on Feb 15, 2017 14:45:30 GMT -5
Like always!
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Post by theMist on Feb 15, 2017 14:45:58 GMT -5
Contango below 10 now. I am going to be careful (based on last trades, 9.8. vixcentral shows over 10 but they are wrong.) Getting dangerous -- that's for sure and they are tough today
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Post by walnut on Feb 15, 2017 14:49:00 GMT -5
You're out but that 17.08 looks tempting again
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Post by walnut on Feb 15, 2017 14:49:32 GMT -5
This too vague. I think I'd better step away for awhile
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Post by theMist on Feb 15, 2017 14:49:51 GMT -5
yeah but I should have taken profits when VXX was under 17 and jettisoned out of the trade completely -- and I shorted a little below 17 (at 16.95 -- 2k shares) and 2k more at 17.02 and gave back some profits And covered at 17.09 and now watching it at 17.06. lol But easier said in hindsight -- definitely a tough day. I think I'm up like 1k. still good how to capture screen
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Post by theMist on Feb 15, 2017 14:51:38 GMT -5
You're out but that 17.08 looks tempting again They're dangerous and we're coming up on final hour final hour can be all over the place
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Post by theMist on Feb 15, 2017 14:53:09 GMT -5
Even Jim Cramer was saying on CNBC that he never saw such a strong broad based move like this! lol
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Post by walnut on Feb 15, 2017 14:53:58 GMT -5
Up 1000 today is good
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Post by walnut on Feb 15, 2017 14:55:02 GMT -5
We think that the market must correct because it is overdue looking at charts going back to the 1880's. But maybe the markets don't correct for a long time.
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Post by theMist on Feb 15, 2017 14:56:02 GMT -5
I just moved my 401k to cash -- move might be a little early but I'd rather be early than late to the Bear party.
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Post by theMist on Feb 15, 2017 15:00:21 GMT -5
We think that the market must correct because it is overdue looking at charts going back to the 1880's. But maybe the markets don't correct for a long time. So the question becomes -- if we do see a correction coming - what do we play?! Long SCAMs and hope that we don't time it wrong for a hurtful loss?! Short SPY, FAS, and/or TNA and average in?!
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Post by theMist on Feb 15, 2017 15:01:54 GMT -5
CNBC - Trump talking about a simple tax code
That would be nice! I"m hoping a nice low flat tax rate!
But he still has to get approval.
Will be interesting to see how markets react when we get wind of the plan.
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Post by walnut on Feb 15, 2017 15:06:35 GMT -5
I am not going long the scams when the correction comes, they can reverse any one day $5 even while they are trending up on a weekly basis. It is too tricky IMO and the losses on those days can be too large.
I think we can still short once we get back in sync after the daily volatility falls and we ride the scams back down to current levels, will make lots of $$$
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Post by theMist on Feb 15, 2017 15:12:19 GMT -5
I am not going long the scams when the correction comes, they can reverse any one day $5 even while they are trending up on a weekly basis. It is too tricky IMO and the losses on those days can be too large. I think we can still short once we get back in sync after the daily volatility falls and we ride the scams back down to current levels, will make lots of $$$ I think it will be a mistake not to play the Bear side some how - could be leaving out a lot of potential profits! At least short SPY, FAS, TNA... Finally, BUY TZA with Clinton?! I can see not going long the SCAMs. But I may try scalping them to the upside BUT that depends on if I see S&P starting to crash back down with more than enough confirmation. And during a real correction, VIX futures can stay in a prolonged period of Backwardation which acts like rocket fuel for them. I wouldn't hold them overnight long or short. One of the reasons why I love daytrading is because I am ready for any market that is thrown at us.
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Post by theMist on Feb 15, 2017 15:13:40 GMT -5
Must be a lot of hedging going on AND/OR short bets today.
SCAMs are still strong!
Question becomes is this one more last flush of the Bears?!
S&P is rising at a stellar pace and I don't see it topping soon.
SP2350 as I type
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Post by walnut on Feb 15, 2017 15:16:31 GMT -5
Scams are a real indicator and right now they are saying be careful.
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Post by theMist on Feb 15, 2017 15:26:26 GMT -5
S&P is in such a steep rising channel that it is RISING at around 900% annual rate of return! Depending on how you draw your channel supports/resistances.
This is definitely unsustainable! The norm for this whole rally has been 12-13% based off Large Rising channel and now we're rising with rocket fuel.
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Post by walnut on Feb 15, 2017 15:28:54 GMT -5
Where is Huh... I wanna hear him say "blow off top" haha
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