My gut tell me we are headed higher gang. We just can't gain any sell-side traction and it's been like that all day. Even the big move down today didn't cause a huge spike in the VIX nor did it have the volume we've seen on downside moves recently. Algos are just pumping it, selling it off a couple of points and then re-buying and ramping again.
Picked up some TZA calls and EFA puts at the recent ES high. I'd be much more confident about more downside though if the VIX wasn't negative on the day. Hopefully it ramps back up into the close.
The intraday prints play out very quickly… usually that day or the follow day. The closing prints (or intraday one's that are a very long way away from the current price) usually play out within a month.
So, you have to play the waiting game, and just when you are finally going in that direction… you look for the print to be hit.
Well, they plan on shaking out all the bears before the real move happens. And, it will probably happen overnight, not allowing the bears a good spot to get short.
Just look for 111.07 to be hit by the end of the day, or early tomorrow. I think it will be safe to go short again around that level. We'll see what the charts say tonight.
Sounds like the Mad Cow run that Cobra's been talking about, where you start to throw logic out the window. I feel like Charlie Brown….you know, right before Lucy pulls the football back when he tries to kick it and he falls on his head?
My gut tell me we are headed higher gang. We just can't gain any sell-side traction and it's been like that all day. Even the big move down today didn't cause a huge spike in the VIX nor did it have the volume we've seen on downside moves recently. Algos are just pumping it, selling it off a couple of points and then re-buying and ramping again.
Not on my end.
did TOS just freeze up for anyone?
Picked up some TZA calls and EFA puts at the recent ES high. I'd be much more confident about more downside though if the VIX wasn't negative on the day. Hopefully it ramps back up into the close.
The intraday prints play out very quickly… usually that day or the follow day. The closing prints (or intraday one's that are a very long way away from the current price) usually play out within a month.
So, you have to play the waiting game, and just when you are finally going in that direction… you look for the print to be hit.
Doesn't it get confusing when there is a high and low mark in the print? For example, there is a 111 and a 107 mark, both kind of recent, right?
Man, I wish I could be on Lucy's (the institutions) side once.
LOL…
Well, they plan on shaking out all the bears before the real move happens. And, it will probably happen overnight, not allowing the bears a good spot to get short.
Just look for 111.07 to be hit by the end of the day, or early tomorrow. I think it will be safe to go short again around that level. We'll see what the charts say tonight.
Sounds like the Mad Cow run that Cobra's been talking about, where you start to throw logic out the window. I feel like Charlie Brown….you know, right before Lucy pulls the football back when he tries to kick it and he falls on his head?
VIX has gone negative on the day. That's terrible for the bears and the bear case for tomorrow. There is absolutely no conviction to the downside.
It's a 100% controlled and manipulated market… you should know that by now.