i agree Red. Based on the open interest i referred to earlier, we should close anywhere between 128.20 and 129.5. Given the VIX needs to close a gap..i would say we close around 128 to 128.40. The VIX gap will close monday instead, meaning we may open lower monday. Remember on opex, its all about the bankers not paying up the bulls or bears if they dont have to…so they keep the price between the most volume on Puts (the price floor) and the most volume on calls (price ceiling). i shorted spy from 128.8 to 128.3 . im out fo rthe day, i hope u guys have a great weekend. Also, come next weekend, i will go ahead and do an open interest study on april OPEX to see what our range COULD be come 3rd friday of april. Im betting UP lol..cause the put call ratio will probably be 2:1 for qqqqs and spy
We have decent volume on the 5 minute candles showing how hard they are trying to hold the market up right now. The short term charts are all ready to rollover, but they may not let them… since today is opx.
Also i prefer the QQQQs “triggers” that i mention above during the spring because you guys will see the bollinger bands on weekly and daily charts start to narrow soon. You cant swing for the fences when the BBs are tight , time decay or theta will eat ya up.
I blogged that during the 3rd impulse wave on weekly /YM last year. We are about to start the 5th impulse wave up on weekly /YM so the concept is the same. We buy qqqqs calls (front month) at 8dayEMA, stops at 10EMA. sell for profits at UBB or 20/25 cents. Not huge profits but very consistent profits. I do this while im waiting on a big chart setup on individual charts like FCX and soon..WYNN.
The weekly 5th impulse wave consist of two daily EW Bullish Patterns.So you will have a great entry point in mid april or so… to go long after the ABC Corrective.
I will blog more about this next week.
Also, we are in a currency cycle where gold tries to revaluate against the DOW and the dollar. We are only probably 20/30 percent through the cycle. With that being said, im converting 90 percent of my savings over to silver at http://www.apmex.com will hold until the price of gold gets close to the price of the DOW (in dollars). doesnt have to be 1:1 but close. After that, we sell Precious metals and payoff any existing debt with cheap dollars. 🙂 and buy more real estate out right!!!
Good news for the people who want a quick short..we are about to touch down on the 15min VIX 200MA @ 22.90 and there is a gap that needs to be filled at 25.70 would not be short after that unless u are scaling out. That should come close to hitting FP from this morning…
Not that i know of. Im looking for some weakness early next week if today is bullish. At which point, ill pickup WYNN and FCX calls (June exp).
Once the weekly RSI turns back up on SPY…will buy on the daily 8day ExpMA and sell at upper BB. this works so many freakin times it gets boring.
Bidu Chart: http://niftychartsandpatterns.blogspot.com/2011/03/bidu-triangle-pattern.html
i agree Red. Based on the open interest i referred to earlier, we should close anywhere between 128.20 and 129.5. Given the VIX needs to close a gap..i would say we close around 128 to 128.40. The VIX gap will close monday instead, meaning we may open lower monday. Remember on opex, its all about the bankers not paying up the bulls or bears if they dont have to…so they keep the price between the most volume on Puts (the price floor) and the most volume on calls (price ceiling). i shorted spy from 128.8 to 128.3 . im out fo rthe day, i hope u guys have a great weekend. Also, come next weekend, i will go ahead and do an open interest study on april OPEX to see what our range COULD be come 3rd friday of april. Im betting UP lol..cause the put call ratio will probably be 2:1 for qqqqs and spy
We have decent volume on the 5 minute candles showing how hard they are trying to hold the market up right now. The short term charts are all ready to rollover, but they may not let them… since today is opx.
The volume has all dried up today gang. I think the market is stuck in the mud right now, and isn’t likely to go anywhere the rest of the day.
Also i prefer the QQQQs “triggers” that i mention above during the spring because you guys will see the bollinger bands on weekly and daily charts start to narrow soon. You cant swing for the fences when the BBs are tight , time decay or theta will eat ya up.
http://sharkmarketanalysis.blogspot.com/2010/12/qqqqs-triggers.html
I blogged that during the 3rd impulse wave on weekly /YM last year. We are about to start the 5th impulse wave up on weekly /YM so the concept is the same. We buy qqqqs calls (front month) at 8dayEMA, stops at 10EMA. sell for profits at UBB or 20/25 cents. Not huge profits but very consistent profits. I do this while im waiting on a big chart setup on individual charts like FCX and soon..WYNN.
The weekly 5th impulse wave consist of two daily EW Bullish Patterns.So you will have a great entry point in mid april or so… to go long after the ABC Corrective.
I will blog more about this next week.
Also, we are in a currency cycle where gold tries to revaluate against the DOW and the dollar. We are only probably 20/30 percent through the cycle. With that being said, im converting 90 percent of my savings over to silver at http://www.apmex.com will hold until the price of gold gets close to the price of the DOW (in dollars). doesnt have to be 1:1 but close. After that, we sell Precious metals and payoff any existing debt with cheap dollars. 🙂 and buy more real estate out right!!!
Post a chart on that 8day ExpMA and upper BB when you can… thanks.
Good news for the people who want a quick short..we are about to touch down on the 15min VIX 200MA @ 22.90 and there is a gap that needs to be filled at 25.70 would not be short after that unless u are scaling out. That should come close to hitting FP from this morning…
Not that i know of. Im looking for some weakness early next week if today is bullish. At which point, ill pickup WYNN and FCX calls (June exp).
Once the weekly RSI turns back up on SPY…will buy on the daily 8day ExpMA and sell at upper BB. this works so many freakin times it gets boring.
That’s always the wildcard… opx manipulation. It could be Monday before they let it fall then. Someone said we are closed on Monday? Do you know?