Comments on: Got Fooled On That One…

By: Red Dragon Leo

Red Dragon Leo — Thu, 11 Feb 2010 08:51:45 +0000

Tonight's post is now out… sorry it took so long gang.

By: monicadern

monicadern — Thu, 11 Feb 2010 08:49:57 +0000

I can't take another ramp job tomorrow. Ugh! When will it end?!

By: DJ

DJ — Thu, 11 Feb 2010 08:48:56 +0000

aussie jobs report came out. very good one. that clearly means dollar down and spx up tomorrow unless some other news shadow that good aussie job report.

By: Earl of

Earl of — Thu, 11 Feb 2010 08:41:51 +0000

Tony just said: This whole correction continues to be a mess. Hard to tell exactly where we are.

Earlier today, Carl Futia (who always offers a range estimate for the day) said: I can't offer a range estimate that I have any confidence in today.

Futures are running up as I type this.

Why am I not in cash?

By: Earl of

Earl of — Thu, 11 Feb 2010 06:18:24 +0000

dreadwin, that hammer last Friday should have done more (to the upside in the days following) than it did. I switched to TZA for tomorrow, though the futures (as I type this) say I'm wrong.

By: Earl of

Earl of — Thu, 11 Feb 2010 06:09:22 +0000

Nice chart. Looks (to me) like VIX wants to go higher.

Looks can deceive me

By: dreadwin

dreadwin — Thu, 11 Feb 2010 05:59:08 +0000

See VIX chart in other comment.

And also:

http://www.screencast.com/users/dreadwin/folder...

I do agree about the warning signs regarding lower lows and lower highs. However, compared to the other indexes, $RUT looks pretty good! $RVX has not even touched its 200 day moving average.

I am expecting the triangle to resolve tomorrow. I have no idea which way it resolves, but the $VIX suggests that equities could go up. I did say that yesterday, too. I was at least half-right.

By: dreadwin

dreadwin — Thu, 11 Feb 2010 05:47:50 +0000

The VIX still looks bearish to me. At least for tomorrow. Will it bounce? If it is going to do it, it has to do it soon. Really soon.

http://www.screencast.com/users/dreadwin/folder...

If the RSI on the VIX closes tomorrow at 50 or so, I think that trendline I have (badly) drawn gets broken. What does that mean? It means no P3 before opex. In my opinion, of course.

By: Red Dragon Leo

Red Dragon Leo — Thu, 11 Feb 2010 05:38:55 +0000

I'll have tonight's post up hopefully by 10pm est., with lot's of charts… and then you can decide which direction we're going?

By: bensjoyce

bensjoyce — Thu, 11 Feb 2010 05:13:58 +0000

currency trader Jason Jankolvky (?sp) on forex tv states that the highest reading ever for short Euro positions ever recorded.

He thinks the top in the dollar is in.

If the Euro rallies strongly then this indicates that stock rally.

BUT, can't they wait a couple of days?