$VIX action is playing out pretty much as I expected. We seem to be painting out a pennant. As we head into close, I expect the MM's to engineer a nasty squeeze.
This run up is clearly a short squeeze on the bears. I know it's tough hanging in, and hoping for a fall, so I don't blame anyone who bails… but I'm staying.
We still have a Big Bear Flag on the Daily chart, with 5 days of sideways to slightly up movement from last Thursdays' big sell off. When this move breaks to the downside, the move will be just as large…
Trading isn't for the emotional person. I know that because I used too sell out during shake out times like this. I let my emotions dictate my trading. I stick with my TA's now, and they are telling me that this is just a back test of the upper trend line on the daily chart.
Hey Leo.
$VIX action is playing out pretty much as I expected. We seem to be painting out a pennant. As we head into close, I expect the MM's to engineer a nasty squeeze.
Thanks Sun… I think we are at the top now.
Nice chart
for those with bearish positions the market should turn down here if we're going lower, fate will be determined shortly
http://www.flickr.com/photos/47091634@N04/43494…
Gcocks,
Interesting. I've never traded (bought or sold) based on the VIX.
Just Added TZA at 10.56
Earl, If vix goes below 24 I am bailing
Leo,
Nerves of steel, man 🙂
Yes, it sucks… but that's trading. It's never easy. But the charts still say down.
Me too. I know it will happen but the time decay sucks.
This run up is clearly a short squeeze on the bears. I know it's tough hanging in, and hoping for a fall, so I don't blame anyone who bails… but I'm staying.
We still have a Big Bear Flag on the Daily chart, with 5 days of sideways to slightly up movement from last Thursdays' big sell off. When this move breaks to the downside, the move will be just as large…
Trading isn't for the emotional person. I know that because I used too sell out during shake out times like this. I let my emotions dictate my trading. I stick with my TA's now, and they are telling me that this is just a back test of the upper trend line on the daily chart.
I still see us falling soon… it will come.