am not out yet red,,, am watching that VIX…it is right at the middle of the bollinger. if it rejects i will close out positions near to closing time, if it pushes through i will hang in there overnight….
Well, I just can’t win. Trading software had a glitch on one of the securities I purchased and I couldn’t sell it. Lost out on some of my profit by having to call in.
I’m not going long, but I’m out of all shorts right now. I’ll re-enter tomorrow. I don’t know if this is just a late fill or not (it doesn’t look like one), but it tell me the market is going up tomorrow.
Besides the FP, the charts are oversold now, and need to reset back up. Use your own judgment, but I’m out now and will look to reload again tomorrow.
look at the technicals on the VIX daily. they have all ‘just’ turned up strongly. histogram on the macd is looking to want to put in some positive bars. it all just looks like this market will sell for a series of days before some kind of relief bounce and rally…. but i never know… i will watch the action till close to closing…
Time to bail out on all shorts… at least for me! I got a new intraday FP of 129.61 on SPY. That’s our upside target I believe. I’ll post a screen shot here asap.
Any bears now in profit, should consider that we could rally back a bit tomorrow to work off the oversold conditions. So you might get a better spot to go short at? I say “might”, as we could also continue selling off too?
But, the volume on the SPY today is still low (about 75 million right now at 1pm) which tells me that this is just a “technical sell off” today, and not a “panic sell off”.
Until the volume surges back up above 200 million, we can (and should) expect some wild swings. Remember, they will likely shake out as many bears as they can… before the real sell off happens.
So some profit taking is something I plan to do today, by closing some shorts and let the others ride (just in case in continues down tomorrow too?).
The market is hitting some support now too, so that’s another reason to be cautious (if you are a bear of course). So, by the end of the day, I’ll close a small amount of shorts and look for a bounce to reload tomorrow.
Should the bounce not happen, then the remain shorts will still be held and should increase in value. Maybe we’ll get a nice “gap down” tomorrow? Wouldn’t that be sweet?
Anyway, just don’t expect this to go straight down without a few shakeouts. Either take some profit, or hold tight and don’t get thrown off the bull… he is dying now!
am not out yet red,,, am watching that VIX…it is right at the middle of the bollinger. if it rejects i will close out positions near to closing time, if it pushes through i will hang in there overnight….
Well, I just can’t win. Trading software had a glitch on one of the securities I purchased and I couldn’t sell it. Lost out on some of my profit by having to call in.
Sorry again… wrong link. Here’s the correct one:
http://reddragonleo.com/wp-content/uploads/spy-fp-129-53-on-01-19-2011.jpg
Sorry, it’s 129.53 spy…
http://reddragonleo.com/wp-content/uploads/fp-106-90-on-5-minute-chart-08-30-2010.jpg
I’m not going long, but I’m out of all shorts right now. I’ll re-enter tomorrow. I don’t know if this is just a late fill or not (it doesn’t look like one), but it tell me the market is going up tomorrow.
Besides the FP, the charts are oversold now, and need to reset back up. Use your own judgment, but I’m out now and will look to reload again tomorrow.
red,
look at the technicals on the VIX daily. they have all ‘just’ turned up strongly. histogram on the macd is looking to want to put in some positive bars. it all just looks like this market will sell for a series of days before some kind of relief bounce and rally…. but i never know… i will watch the action till close to closing…
Time to bail out on all shorts… at least for me! I got a new intraday FP of 129.61 on SPY. That’s our upside target I believe. I’ll post a screen shot here asap.
It was fun while it lasted.
Got a GREAT position in VXX.
Click on the “Photos” button below on the toolbar. It’s the 4th one from left to right, on the top row.
Any bears now in profit, should consider that we could rally back a bit tomorrow to work off the oversold conditions. So you might get a better spot to go short at? I say “might”, as we could also continue selling off too?
But, the volume on the SPY today is still low (about 75 million right now at 1pm) which tells me that this is just a “technical sell off” today, and not a “panic sell off”.
Until the volume surges back up above 200 million, we can (and should) expect some wild swings. Remember, they will likely shake out as many bears as they can… before the real sell off happens.
So some profit taking is something I plan to do today, by closing some shorts and let the others ride (just in case in continues down tomorrow too?).
The market is hitting some support now too, so that’s another reason to be cautious (if you are a bear of course). So, by the end of the day, I’ll close a small amount of shorts and look for a bounce to reload tomorrow.
Should the bounce not happen, then the remain shorts will still be held and should increase in value. Maybe we’ll get a nice “gap down” tomorrow? Wouldn’t that be sweet?
Anyway, just don’t expect this to go straight down without a few shakeouts. Either take some profit, or hold tight and don’t get thrown off the bull… he is dying now!
red,
i am trying to find where you put that screen shot of the 8300 dow FP?