Red, my GUESS is that the shorts gets squeezed after tomorrow's job reports and we get back to the 1040 zone for a backtest (at which point the vix will probably be at 29). From there (maybe Tuesday morning), we start heading back down to your casper. After that, I believe we bounce to 1070.
Could be? But the volume isn't as high as I'd like to have seen it. It's high, but I'm not sure yet? We didn't hit my print of 100.72 spy, and the jobs data is still ahead tomorrow morning. If all the news was out, then I'd feel a little better agreeing with you, that we may have had capitulation today. Let's see what the last hour brings first…
Well, once we hit the low 990's today or tomorrow, I'll probably do a put credit spread on the spy. Then the vix and time decay will work in your favor.
Red, my GUESS is that the shorts gets squeezed after tomorrow's job reports and we get back to the 1040 zone for a backtest (at which point the vix will probably be at 29). From there (maybe Tuesday morning), we start heading back down to your casper. After that, I believe we bounce to 1070.
Looks like 1035 is the 50ema, and should also act as resistance.
S&P 500 Trading near resistance levels
http://niftychartsandpatterns.blogspot.com/2010…
Yup, I'd go short when the VIX hits its 200 again.
I think we will go up to 1070 by opx Monica, so you might just want to wait until then.
Could be? But the volume isn't as high as I'd like to have seen it. It's high, but I'm not sure yet? We didn't hit my print of 100.72 spy, and the jobs data is still ahead tomorrow morning. If all the news was out, then I'd feel a little better agreeing with you, that we may have had capitulation today. Let's see what the last hour brings first…
Red, I think we'll hit it next week. I am going to reshort when the vix hits 29.
We're getting capitulation today. Could be start of a multi-day rally.
Well, once we hit the low 990's today or tomorrow, I'll probably do a put credit spread on the spy. Then the vix and time decay will work in your favor.
Instead of going long next time, I should just sell the Vix