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Post by theMist on Jun 9, 2017 14:16:00 GMT -5
Come on my Babies! VXX GO RED!!! VXX 13.39
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Post by theMist on Jun 9, 2017 14:26:06 GMT -5
As scary as the swings are today -- this could be sector rotation also
Just saying
and have to see how S&P closes
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Post by walnut on Jun 9, 2017 14:47:41 GMT -5
This is as large a setback for NAS as May 17th. Kinda weird
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Post by theMist on Jun 9, 2017 14:52:29 GMT -5
700 Million to the BUY SIDE
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Post by theMist on Jun 9, 2017 14:55:36 GMT -5
What French elections are happening this Sunday?
CNBC just mentioned
Have a good weekend everyone
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BigM
Full Member
Posts: 142
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Post by BigM on Jun 10, 2017 6:33:03 GMT -5
I have been following this message board consistently for several weeks now. I was around here about 4 years ago but I had quit trading so I didn't follow
Thanks everyone for you input here. I will add some hopefully valuable things here and there.
I trade mostly options (on SPY) and futures (s&p). I like to follow algorithms as far as when to go long/short (swing trade).
My star trade of the day yesterday was buying some SPY $244 puts for .07 and selling them for .25. (250% gain) Then I watched them touch a high of 2.00!
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Post by huh on Jun 10, 2017 6:35:27 GMT -5
I didn't even realize how much the market was down yesterday until just now. Here's a look at how it played against those FIB supports I showed before:
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Post by huh on Jun 10, 2017 6:58:42 GMT -5
SPX isn't necessarily out of the woods though, even after that bounce. Could still go down for that gap fill & lower FIB test a little below yesterday's low. Seeing mixed signals in the VIX products. VIX futures filled its downside gap, to the penny, on its daily chart which is typically followed by a large spike (a spike sometimes caused only by a contract rollover adjustment vs. real movement) Spot VIX whipsawed the entire range of a H&S' neckline and shoulder test line, breaking both, then closed almost right in the middle of it all.
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Post by huh on Jun 10, 2017 7:04:49 GMT -5
Overall, SPX should be fine so long as it holds the 2412 area, and VIX still downtrending unless it breaks back above its shoulder test line ~11.35.
There's lots of backtests, gap fills & other supports for SPX under 2412, but any close under that and I wouldn't think any of them would hold for long until it saw down to ~2050 - not at these valuations. But that type of close would require SPX down >1/2%, and though it's seen a few moves like that this year, none have held.
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Post by huh on Jun 10, 2017 7:21:26 GMT -5
Is it just me or anyone else notice that these market pullbacks seem to happen very, very fast?
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Post by walnut on Jun 10, 2017 10:52:37 GMT -5
Contango back high but VIX back down to 9.40's, that is too low, caution I'm not saying that a very low vix somehow causes vxx spikes, but there has been an inverse correlation for the last several months. It may trigger the algos I suppose. The NAS drop was obviously the problem Friday.
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Post by theMist on Jun 10, 2017 12:17:13 GMT -5
Somebody yell at me to take profits when my targets hit lol Man that was some swing in VXX to live thru. Anyway, the market is making it clear that once those bullish targets get hit, they sell hard iH&S target at SP2447ish was hit and VXX hit 12.80 range S&P feels like it is absolutely in the final throws of a bull market and creating rising wedges in S&P on the way up. After S&P hits its iH&S target, dropped back and plowed thru the back test of support and dropped to tag rising support and like Huh said move isn't necessarily over S&P still has SP2468 large iH&S target as well as possibly SP2490s cup & handle, large ascending triangle target low 2500s Doesnt mean S&P can't back test low 2400 If you look at S&P weekly chart -- still looks bullish S&P Hourly ChartS&P Weekly Chart
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Post by lasvegas77 on Jun 10, 2017 13:12:09 GMT -5
Although I think new highs will come on the snp, it appears the downside is going to come very quickly and probably give few a chance to exit at a profit if you aren't ahead of the algos.
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Post by jacksrbtr on Jun 10, 2017 17:11:40 GMT -5
What French elections are happening this Sunday? CNBC just mentioned Have a good weekend everyone Every June they have that "Cut the Cheese" election. Its for all the asshole socialist/communists there.
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Post by novie08 on Jun 11, 2017 17:12:50 GMT -5
This is as large a setback for NAS as May 17th. Kinda weird Yes, what's with the tech drop? Is it just rotation into another sector and if so, which one? I'm several months behind here.
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Post by novie08 on Jun 11, 2017 17:29:47 GMT -5
What French elections are happening this Sunday? CNBC just mentioned Have a good weekend everyone Every June they have that "Cut the Cheese" election. Its for all the asshole socialist/communists there. Lol, Jack. I just saw an old Johnny Carson show with Roger Moore who allowed as how he was a good British socialist but he just didn't want to give 70% of his earnings to the government because he thought he should be able to leave his money to his children!
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Post by theMist on Jun 12, 2017 6:37:25 GMT -5
shorting some VXX in premarket 13.57-13.60 range for scalp
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Post by walnut on Jun 12, 2017 7:10:31 GMT -5
Looks like you sold it at about the best price this morning.
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Post by theMist on Jun 12, 2017 7:11:45 GMT -5
Looks like you sold it at about the best price this morning. thx - should fill morning gap obviously spot to take some profits
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Post by theMist on Jun 12, 2017 7:21:21 GMT -5
VXX 15 min premarket chart At minimum should back test first green arrow target, possibly 2nd today VXX currently 13.51 in premarket
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