Financial history doesn't repeat itself, but it often rhymes.
You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
Friday, October 30, 2009
Pushing the range
We are very much pushing the range today... I have to point out that the bollinger band on the vix is just ahead of us.... It's a huge move in the Vix....
Over the weekend we'll have Dr Brett taking out the stats on what hap[pens after Vix days of +9% and your buddy ZH looking at his McClellan oscillator...
...they'll say that a 15 pt SPX rally is in the cards for Monday.
I'm looking at VXX and this is the only 9+% move I see. Maybe the NYSE Vix index is a little different, but after the Wed Vix pop, a couple sites *predicted* the market pop Thurs... maybe they were lucky, but it was interesting.
I was kidding about ZH... you had pointed out his McClellan Oscillator (MO) post, which I had read... and I read somewhere a while ago the MO was becoming irrelevant because of the large swings over the last few years. This has made it hard to use for day-trading, which was McClellan's primary purpose.
Well, that was a big day. At the end of the day I have a little SSO, TNA and DIG as hedges and otherwise short individual stocks... I am net flat overall.
This feels like a half way point for the swing... Maybe DD.
I know I talk about the intraday swings, but I hate trading them. I like building a sold(short) position, which I did above 10K. I added to it yesterday, thinking we would move from Subtle to Overt.
but this is as short as I get (mostly).. maybe I'd daytrade short, if I feel up for it. but this is about as short as I'm willing to get. and if we can Gap down. I'll take a little off, and see what happens.
Doug Kass went "All In" on BAC today... not sure what that means. he also started Legging in on some other banks. JPM..
I just Hate day trading. and if I was doug and had to do all the crap he does with every ebb and flow of the market... I'd sweep floors.
even with this sell off P/E's are still in the 18-19 range... Which is huge Recovery
We are very much pushing the range today... I have to point out that the bollinger band on the vix is just ahead of us.... It's a huge move in the Vix....
SPY gonna bounce on S2 103.52 and maybe end day on S1 104.23
ReplyDeleteOver the weekend we'll have Dr Brett taking out the stats on what hap[pens after Vix days of +9% and your buddy ZH looking at his McClellan oscillator...
ReplyDelete...they'll say that a 15 pt SPX rally is in the cards for Monday.
We will see, and I'll be happy to scalp a long on monday.
ReplyDeletethis is the 3rd 10% move on the vix...
I stopped listening to Brett and ZH.. Years ago.
I'm looking at VXX and this is the only 9+% move I see. Maybe the NYSE Vix index is a little different, but after the Wed Vix pop, a couple sites *predicted* the market pop Thurs... maybe they were lucky, but it was interesting.
ReplyDeleteI was kidding about ZH... you had pointed out his McClellan Oscillator (MO) post, which I had read... and I read somewhere a while ago the MO was becoming irrelevant because of the large swings over the last few years. This has made it hard to use for day-trading, which was McClellan's primary purpose.
Well, that was a big day. At the end of the day I have a little SSO, TNA and DIG as hedges and otherwise short individual stocks... I am net flat overall.
Over all I'm trying to trade the daily.
ReplyDeleteThis feels like a half way point for the swing... Maybe DD.
I know I talk about the intraday swings, but I hate trading them. I like building a sold(short) position, which I did above 10K. I added to it yesterday, thinking we would move from Subtle to Overt.
but this is as short as I get (mostly).. maybe I'd daytrade short, if I feel up for it. but this is about as short as I'm willing to get. and if we can Gap down. I'll take a little off, and see what happens.
Doug Kass went "All In" on BAC today... not sure what that means.
he also started Legging in on some other banks. JPM..
I just Hate day trading. and if I was doug and had to do all the crap he does with every ebb and flow of the market... I'd sweep floors.
even with this sell off P/E's are still in the 18-19 range... Which is huge Recovery