|
Post by lasvegas77 on Apr 19, 2017 15:02:51 GMT -5
Funny you mention it. I was accepted for a white house tour on May 2nd. I was planning on going and arranging a trip. But then i thought, the government shutdown on april 28 will mean washington dc is a terribly boring place to visit. So change of plans for now.
|
|
|
Post by lasvegas77 on Apr 19, 2017 15:03:24 GMT -5
Funny you mention it. I was accepted for a white house tour on May 2nd. I was planning on going and arranging a trip. But then i thought, the government shutdown on april 28 will mean washington dc is a terribly boring place to visit. So change of plans for now.
|
|
|
Post by theMist on Apr 19, 2017 15:16:09 GMT -5
BTW - Being long VIX SCAMs with all its wild swings is kind of like that Toy Story Video you posted. lol
|
|
|
Post by lasvegas77 on Apr 19, 2017 15:18:43 GMT -5
Yeah, i would imagine so Mist. But i much prefer to short it than go long. The swings are just insane. At least when you are shorting it with contango you know it is supposed to go down eventually.
|
|
|
Post by theMist on Apr 19, 2017 15:21:24 GMT -5
Yeah, i would imagine so Mist. But i much prefer to short it than go long. The swings are just insane. At least when you are shorting it with contango you know it is supposed to go down eventually. I was long VXX from 16.40 and sold just under 18 for 18k profit, then shorted VXX at 17.50 range to fill the gap back down to 17.08 and covered at 16.92. If I was still long VXX from 18 down to 16.92 I would have definitely been all emotional and upset. lol I don't think I could hold VXX long overnight for more than 2-3 days
|
|
|
Post by theMist on Apr 19, 2017 15:32:05 GMT -5
Definitely a strong close for the Bears and maybe, just maybe they're starting to wake up from winter hibernation Bears definitely like to sleep a lot. BTW - Las Vegas are you a Bear?! spot VIX Daily
|
|
|
Post by theMist on Apr 19, 2017 15:33:37 GMT -5
VXX Hourly chart Indicators flirting with bullish cross
|
|
|
Post by Lasvegas77 on Apr 19, 2017 15:34:09 GMT -5
Right. For good reason
|
|
|
Post by theMist on Apr 19, 2017 15:35:00 GMT -5
I'm sure your only Bearish until VXX hits 20ish? And if VIX futures revert back into contango at that point
|
|
|
Post by lasvegas77 on Apr 19, 2017 15:48:40 GMT -5
I'm sure your only Bearish until VXX hits 20ish? And if VIX futures revert back into contango at that point will reassess there
|
|
|
Post by theMist on Apr 19, 2017 15:50:18 GMT -5
I'm sure your only Bearish until VXX hits 20ish? And if VIX futures revert back into contango at that point will reassess there smart And if VXX gets to 20 I strongly believe it will fill the gap to VXX 23.64 so personally I wouldn't short VXX (for longer term) if VXX makes run for 20s and until that gap fill
|
|
|
Post by lasvegas77 on Apr 19, 2017 15:55:49 GMT -5
Certainly possible. It would certainly be quite normal for it to push that high. It usually goes higher than anyone thinks it will when it does spike.
|
|
|
Post by theMist on Apr 19, 2017 16:17:47 GMT -5
VXX Daily chartStarting to look like VXX is consolidating just under large descending channel resistance for possible break higher out of channel OR does VXX turn down hard with a solid red candle like it has so many times before? I have to admit with S&P chart still favoring bearish side and along VIX futures along with today's bearish close, VXX could be setting up for breakout of descending channel but we'll see... jury is still out and would await confirmation before making move either way On smaller VXX timeframes, VXX is possibly putting in a larger bottoming pattern in form of double bottom and inverse Head & Shoulders but I would put more weight on S&P chart /direction along with VIX, VIX futures to dictate overall direction of VIX SCAMs IMO Also, if VXX breaks out of that descending channel and successfully back tests then 100dsma is next likely target currently at 20.32
|
|
|
Post by theMist on Apr 19, 2017 16:49:03 GMT -5
S&P Daily ChartS&P starting to get bearish alignment of moving averages BBs squeezing indicating directional move coming soon Bears want to see S&P price action drop along with those moving averages widening and pointing down Bulls want to see them go sideways and then cross back bullish along with pointing upward Also, supporting Bear case -- MACD Histogram ticked down today from -2.62 to -2.66 and MACD, DI lines still bearish S&P Weekly Indicators also still bearish S&P weekly
|
|
|
Post by theMist on Apr 19, 2017 17:29:40 GMT -5
S&P Monthly ChartAnother trick that I've learned when viewing S&P Monthly Chart is using 10sma. If you notice from long term chart (going back to 1990s) when S&P stayed above its 10sma on monthly chart it remained Bullish. If it dropped below it, majority of time it would get back above it. For those times it didn't, S&P remained Bearish I believe if S&P continues to sell and S&P gets below 2322.25 (March monthly DOJI low) then S&P could be setting up for tag of 10sma currently at 2242. But this is too early to call but just something to be mindful of
|
|