I think next swing low on VIX will be around 35 in a few weeks.br /br /I been accumulating SPH9 for a swing trade below 820 but I do not want this trade to be recorded. I expect SP to test 970 near the end of the earning season (probably third week of Feb opex)
UK is imploding folks. FTSE started cratering like a hot stone due to the situation I had mentioned here on xTrends a while ago. Their banking and real estate markets are where we were in late 2007 and as I said this would be the catalyst for the impending terminal sell off here in US [...]
My short term timing was wrong today. Overnight futures were severely pressured by the European markets which in turn caused a large gap down below key technical levels. However I am waiting for the close to decide about my next move.br /As you may remember, Atilla mentioned about certain banking and real estate problems in UK a while ago. Unfortunately my short term call coincided with a breakdown on FTSE.br /In short, I am waiting for the close and post an update accordingly.
It’s very interesting that SPX closed it’s session near 870 area. If the market gaps up tomorrow, it could be unique day.
Edit:br /br /TZA closed @ 55.05 for breakevenbr /TWM closed @ 70 : $25.0073 dividend on Dec 22, 2008, took 17% lossbr /MZZ closed @ 62.5: $23.84952 dividend on Dec 22, 2008, took 17.7% loss
for a ST trade
for 18 points profit. I will reshort after Opex.br /br /I believe I will be able to get better entry price to short. (higher than 890)
Following are the updated versions of these charts.
Staying short from 890 average (864,890,917) for the projected low below 600.
Hi guys,br /I know that I didn’t post much, the reason for that was actually the market itself. It had entered into a whipsawing area and it was chopping for couple days. Absolutely there was no trends and not tradeable for me. But It has also come to my attention that some of the major sectors have weakened like XLF and SMH during the last day the previous week ( They broke their short-term trend intraday. Monday these trends might get tested and look strong in the first couple hours.
