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Post by theMist on Mar 3, 2017 9:59:09 GMT -5
6000 short VXX Probably too early. Scams like to come up just before lunch a lot of the days. Just gotta watchout for that bounce off rising support -- indicators still bearish which is good but that can change as we know VXx 17.71
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Post by walnut on Mar 3, 2017 10:01:03 GMT -5
I believe you but I am not seeing any real support right there
Ok, at about 17.60
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Post by theMist on Mar 3, 2017 10:02:49 GMT -5
I believe you but I am not seeing any real support right there S&P is trading nicely and contango high and SCAMs trading normal Looking for VXX to put in bear flag in this area and take leg lower below that rising blue line support online photo storage
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Post by walnut on Mar 3, 2017 10:04:20 GMT -5
The VXX support I see is really about 17.48
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Post by walnut on Mar 3, 2017 10:05:14 GMT -5
Ok I see what you mean
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Post by theMist on Mar 3, 2017 10:06:01 GMT -5
The VXX support I see is really about 17.48 I see the horizontal support you are talking about Blue line has significance OR else we would not have bounced exactly when VXX tagged it. VXX needs to get below it Look at how VXX stopped right at it and is consolidating above it AND hopefully doesn't bounce hard off of it. This is a good spot to take a little profits. IMO Can always reshort VXX when it breaks below it and then backtests it from underneath
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Post by walnut on Mar 3, 2017 10:06:07 GMT -5
With VXX i tend to think of horizontal support levels due to the high contango. Mathematically it has to drop, would take a lot to prevent it.
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Post by walnut on Mar 3, 2017 10:08:00 GMT -5
I think we think alike, but you are bolder than me haha
I never mentally recovered from August 2015, a day which will live in infamy
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Post by theMist on Mar 3, 2017 10:09:55 GMT -5
FYI - S&P is in its breakaway gap area. Don't want to see hard selling kick in and don't want to see VXX bounce hard off that rising blue line support
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Post by walnut on Mar 3, 2017 10:10:33 GMT -5
Now ya say it
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Post by theMist on Mar 3, 2017 10:11:05 GMT -5
yeah, but its still slow, controlled selling which is great for short VIX SCAMs and VXX is bear flagging / consolidating just above the blue line rising support I have drawn FOR ANOTHER LEG LOWER
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Post by clinton on Mar 3, 2017 10:11:26 GMT -5
FEB ISM NON-MANUFACTURING INDEX AT 57.6; EST. 56.5
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Post by theMist on Mar 3, 2017 10:15:00 GMT -5
See how its consolidating / bear flagging just above it?! VXX 15 min free image host
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Post by walnut on Mar 3, 2017 10:16:22 GMT -5
FEB ISM NON-MANUFACTURING INDEX AT 57.6; EST. 56.5 Business is slow. I am sure of it. I'm going to have to go on a road show tour. Last year was easy. Don't know what is wrong
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Post by theMist on Mar 3, 2017 10:17:13 GMT -5
VXX gets below that rising blue line support and then it will test VXX 17.51
If VXX 17.51 breaks then next stop is VXX 17.24
That would be good spot to take profits. IMO
BUT first we need VXX to get below that blue line and not put in a hard bounce
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Post by theMist on Mar 3, 2017 10:18:31 GMT -5
We gotta watch out for FED Hawks
Breaking News: Lacker: U.S. may be in pre-inflationary moment
I'm sure they're not liking this vertical rise in stock market
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Post by theMist on Mar 3, 2017 10:23:03 GMT -5
I took profits
Fed news made them hit S&P sell button
Need to get VXX below that blue line
reshorting again
VXX 17.76
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Post by walnut on Mar 3, 2017 10:25:01 GMT -5
really? I'm not seeing it yet I took profits Fed news made them hit S&P sell button Need to get VXX below that blue line
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Post by walnut on Mar 3, 2017 10:25:24 GMT -5
Gonna try to stick it out this time
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Post by walnut on Mar 3, 2017 10:27:07 GMT -5
market knows about 3 rate hikes coming this year
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