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Post by walnut on Feb 1, 2017 10:46:35 GMT -5
Sorry I hadn't looked that first chart over before, I wouldn't have liked it either  |
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Post by walnut on Feb 1, 2017 10:48:55 GMT -5
I should have averaged in more slowly, But I thought it was headed to the 18.80's or lower. Shoulda known better with the meeting VIX ALWAYS creeps up. I am short 6000 VXX. If this starts dropping hard I'll probably sell more I'm at a loss now Price might float up till the FOMC statement. I might sell some more later Are you averaging in slowly? How much VXX short do you have now and out of how many MAX? What cost avg? Keep dry powder in case VXX does reach up to backtest that 19.39 pivot. I doubt it but definitely possible with FOMC later. VXX is still forming bear flag and Hourly indicators in our favor. Look at contango! Taking a step back -- They're honestly are hardly budging to the upside even with this selling when you think about it. Need to relax, take things slowly. |
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Post by walnut on Feb 1, 2017 10:50:33 GMT -5
I have noticed that VIX tends to be highest at around 10 to 11 eastern time. It tends to rise than settle back down.
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Post by walnut on Feb 1, 2017 10:52:08 GMT -5
Work phone has been ringing all morning so haven't been able to be as worried about this VXX as I should haha
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Post by theMist on Feb 1, 2017 10:55:42 GMT -5
Work phone has been ringing all morning so haven't been able to be as worried about this VXX as I should haha No need to worry - seriously!!! Trust theMist! Everything is still looking good for our trade. I wish you were with me yesterday also. Made good money yesterday. But that's ok. But how much short VXX do you have and out of how much max position? cost avg? BTW - Thanks for the Hourly SP chart. My charts are working again. Looks like S&P filled the BREAKAWAY GAP but didn't rise up to fill the common GAP TVIX is still down 3% with all this pullback. tvix currently at 5.28 |
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Post by walnut on Feb 1, 2017 10:57:12 GMT -5
I'm short 6000 avg price 19
I might would day trade with up to 8000 or so so I am already kinda all in
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Post by theMist on Feb 1, 2017 11:01:49 GMT -5
I'm short 6000 avg price 19 I might would day trade with up to 8000 or so so I am already kinda all in I'm only in half way. But that's ok -- you will be fine. But for future reference when chasing short SCAMs, avg in a little more slowly than I do. I'm up a lot and have very high risk tolerance and won't be as emotional if they go against me as you know. You will get there, you just need to get a real solid run and we need you to double your account balance my friend.  They will drop down again - you'll see! S&P also has a lot of support in this area. Maybe we put in an S&P lod of 2271ish or lows can already be in BUT would look for S&P to possibly bounce hard. But as you know SCAMs are in a world all unto themselves. lol VXX already at 19.08 as I type You will definitely need to watch your positions closely today especially with FOMC on tap. |
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Post by walnut on Feb 1, 2017 11:08:23 GMT -5
I like the double the account size idea
I have not been using any or much margin so far. Do you?
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Post by theMist on Feb 1, 2017 11:11:21 GMT -5
I like the double the account size idea I have not been using any or much margin so far. Do you? I'm using leverage about 90% of the time when daytrading. I did pull some funds out of my trading account and if we enter a real tough trading environment and have difficulty with calling short term moves, I will take more funds out. That's the only way it will restrict me from taking heavy positions. |
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Post by clinton on Feb 1, 2017 11:22:09 GMT -5
Im backing the truck up on PBI
down 20% on a .04 miss that nuts
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Post by theMist on Feb 1, 2017 11:29:38 GMT -5
VIX SCAMs do look like they want to backtest that breakout / pivot. VXX 19.39. If they do I add more. I still say our SCAM short position is still in good standing.
But do have to exercise caution with afternoon meeting.
Also, this move so far is negating the red hollow candle on S&P daily chart but S&P should be very close to bottom for the day. A move below S&P 2267 with close would not be good.
FOMC meeting can change all of this selling and honestly, selling going into the announcement is good IMO. Don't want markets to be up a ton before the announcement.
If we do get a quarter rate hike -- I think markets will be fine. We get more dovishness and markets will bounce back hard to the upside. IMO
VXX at 19.22 as I type
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Post by walnut on Feb 1, 2017 11:30:21 GMT -5
I really thought today was going to be bullish. Still could be
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Post by walnut on Feb 1, 2017 11:34:46 GMT -5
This is playing out exactly like I assumed it would, sorry I took the bait earlier this morning
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Post by Herceg on Feb 1, 2017 11:35:53 GMT -5
OKS on watch with AAPL.......... Nice short and cover on OKS........missed its partner OKE................watching ACXM.................JMO and BOL........ ACXM short closed and will let the mkt. do what it wants to do until tomorrow............BOL to all !! |
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Post by walnut on Feb 1, 2017 11:37:44 GMT -5
How'd you do? Looks like you must have done very well
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Post by theMist on Feb 1, 2017 11:40:32 GMT -5
This is playing out exactly like I assumed it would, sorry I took the bait earlier this morning Just keep it small next time when chasing. We need to earn money slowly with our trades and a few hundred or Ks a day add up over time. And we can't make money every single day and can't get emotional if we do have a losing day. But I still feel our odds with our position today have really good chance to be profitable by EOD. Charts and Technicals still look BEARISH for VIX SCAMs and that's even though S&P can still have further downside. Don't go for the KILL real fast. And I am glad you are refraining from using margin and that is a very good conservative approach. And that means you can tap into it if need be. And I have a half position on right now. Like I said, I have a higher risk tolerance being that I am up a lot. Don't worry you will get there, it will take a few months in all honesty. You will become a Cowboy like me eventually. lmao. VXX now at 19.15 Remember - the headfakes have been to the upside in the SCAMs. Keep your eye on spot vix, vix futures contango curve. Contango at 11%. Does it look like there is a lot of fear out there right now? Do you really think the FED wants to crash the markets? They maybe getting a little more hawkish BUT even if they raise rates ITS ONLY BECAUSE THEY WANT TO GET BACK TO NORMALIZATION and not to put brakes on economy. just my 2 cents |
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Post by walnut on Feb 1, 2017 11:41:12 GMT -5
Just closed the deal with largest materials distributor in Northern California (I think) 6 locations woo hoo
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Post by theMist on Feb 1, 2017 11:44:11 GMT -5
Just closed the deal with largest materials distributor in Northern California (I think) 6 locations woo hoo Awesome Stuff! Good to hear!! |
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Post by walnut on Feb 1, 2017 11:47:06 GMT -5
I was not liking the feel of things yesterday so was not willing to get very far down on those trades. I don't know for sure that we are still in a bull market. I like the look of it today better. I'll keep following our plan as best I can, my unwillingness to get very far down costs me sometimes because I get up from the casino table before I have a chance to make money. On the other hand this fall I stayed short most of the time and made a lot of money. I'm not very consistent in my thinking I guess. This is playing out exactly like I assumed it would, sorry I took the bait earlier this morning Just keep it small next time when chasing. We need to earn money slowly with our trades and a few hundred or Ks a day add up over time. And we can't make money every single day and can't get emotional if we do have a losing day. But I still feel our odds with our position today have really good change to be profitable by EOD. Charts and Technicals still look BEARISH for VIX SCAMs even though S&P can still have further downside. Don't go for the KILL real fast. And I am glad you are refraining from using margin and that is a very good conservative approach. And that means you can tap into it if need be. And I have a half position on right now. Like I said, I have a higher risk tolerance being that I am up a lot. Don't worry you will get there, it will take a few months in all honesty. You will become a Cowboy like me eventually. lmao. VXX now at 19.15 Remember - the headfakes have been to the upside in the SCAMs. Keep your eye on spot vix, vix futures contango curve. Contango at 11%. Does it look like there is a lot of fear out there right now? Do you really think the FED wants to crash the markets? They maybe getting a little more hawkish BUT even if they raise rates ITS ONLY BECAUSE THEY WANT TO GET BACK TO NORMALIZATION and not to put brakes on economy. just my 2 cents |
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Post by theMist on Feb 1, 2017 11:55:23 GMT -5
Here comes S&P 2271ish and is engulfing red hollow hammer candle and is negating that bottom candle. We should now get that VXX backtest of the break and possibly SCAMs go green for a little bit.
But they are honestly struggling just to backtest. lol. Everytime they make new HOD, they drop back immediately -- if your watching the action. Contango now at 11.48%
Any rise in them doesn't last very long. VXX hit new HOD at 19.33 and dropped back real quick to VXX 19.19. So far looks like quick little spikes/headfakes to upside.
Remember where in an area with a lot of support for S&P even though I can see S&P possibly drop little more to S&P 2271ish. It all relies on how markets close today.
For me, I will be adding more short if VIX SCAMs go green and will keep high mental stop at VXX 20.
FOMC shouldn't do harm to markets BUT do have to exercise caution. I don't think Yellen is fan of Donald Trump. lol
And I know things can change real fast because of FOMC.
But take a step back and remove emotions -- LOOK AT THE ACTION SO FAR -- S&P is down 4 now as I type and TVIX is still down around 3% (TVIX 5.28, VXX 19.15). That's why we call them the VIX SCAMs. lol
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