Investors....come in please!

[Warstud]

I was looking at the Dow...which is at support (bottom of trading range). SPY is at trendline support and the VIX is at resistance.
$SPXA50R is at 38...Been experimenting with the $SPXA50R with a ascending 3EMA on the weekly as a buy point. Ignore the news..listen to the charts.

 

[surfstar]

Originally Posted By: Warstud
The market is getting close to my buy point. May nibble tomorrow.


Too late now.

Until it drops again.

 

[JHZR2]

+1

 

[demarpaint]

Originally Posted By: surfstar
Originally Posted By: Warstud
The market is getting close to my buy point. May nibble tomorrow.


Too late now.

Until it drops again.


You'll get another chance, not today though.

 

[Turk]

Did Ok on the VXX lately, but the last time I forgot to put in a stop when I ran up to NAPA for 20 minutes on Wednesday.

Of course, it "tanked" when I was gone,

now it is too low to sell, so hoping it goes up today or during the debt ceiling talks so I can get out.

 

[demarpaint]

Originally Posted By: Turk
Did Ok on the VXX lately, but the last time I forgot to put in a stop when I ran up to NAPA for 20 minutes on Wednesday.

Of course, it "tanked" when I was gone,

now it is too low to sell, so hoping it goes up today or during the debt ceiling talks so I can get out.



The VXX will be all over the place IMO you'll have a few more shots at getting out with a gain.

 

[Turk]

Originally Posted By: demarpaint
Originally Posted By: Turk
Did Ok on the VXX lately, but the last time I forgot to put in a stop when I ran up to NAPA for 20 minutes on Wednesday.

Of course, it "tanked" when I was gone,

now it is too low to sell, so hoping it goes up today or during the debt ceiling talks so I can get out.



The VXX will be all over the place IMO you'll have a few more shots at getting out with a gain.


I agree, just need to be patient...... I'd be happy with even-steven.

 

[demarpaint]

Originally Posted By: Turk
Originally Posted By: demarpaint
Originally Posted By: Turk
Did Ok on the VXX lately, but the last time I forgot to put in a stop when I ran up to NAPA for 20 minutes on Wednesday.

Of course, it "tanked" when I was gone,

now it is too low to sell, so hoping it goes up today or during the debt ceiling talks so I can get out.



The VXX will be all over the place IMO you'll have a few more shots at getting out with a gain.


I agree, just need to be patient...... I'd be happy with even-steven.





I hear ya, lately every time the Pres or JB speaks the VXX goes wild, which is probably why you're in the trade anyway.

You'll get a crack for sure.

 

[Drew99GT]

Originally Posted By: Turk
Did Ok on the VXX lately, but the last time I forgot to put in a stop when I ran up to NAPA for 20 minutes on Wednesday.

Of course, it "tanked" when I was gone,

now it is too low to sell, so hoping it goes up today or during the debt ceiling talks so I can get out.



VXX should probably only be used for day trading from what I've read. Since it buys Vix futures and has to roll the contracts over, and those contracts are in contango, it loses value just from time decay. That's why many times the actual Vix will be up on a certain day, but the Vix ETFs will be down. Many commodity ETFs suffer from that problem, like USO.

 

[Turk]

Yes, that was the intent, just got caught in a quick drop when I went to get some paint.

 

[Warstud]

Originally Posted By: demarpaint
Originally Posted By: surfstar
Originally Posted By: Warstud
The market is getting close to my buy point. May nibble tomorrow.


Too late now.

Until it drops again.


You'll get another chance, not today though.


Not today either. DAMMNNNNN

 

[Turk]

Originally Posted By: demarpaint


The VXX will be all over the place IMO you'll have a few more shots at getting out with a gain.


"No Deal"

So, looks like I'll recoup...

 

[friendly_jacek]

This topping process is painful for both bulls and bears, LOL.

However, looks like gold/miners should bottom at these levels.

 

[Drew99GT]

Originally Posted By: friendly_jacek
This topping process is painful for both bulls and bears, LOL.

However, looks like gold/miners should bottom at these levels.


They had their chance. Gold and miners just went through a head and shoulders and will likely test their 2013 lows. I wouldn't touch them with a ten foot pole. I had a good trade in NUGT but the metals/miners keep finding resistance at the moving averages. They all broke their 200 week moving averages long ago. The trend is down until proven otherwise IMO. Getting sustained prices above the 50 day moving average and finding support on retest would be a good start.

 

[demarpaint]

Originally Posted By: Turk
Originally Posted By: demarpaint


The VXX will be all over the place IMO you'll have a few more shots at getting out with a gain.


"No Deal"

So, looks like I'll recoup...

Did you get out? It should be interesting later today..........

 

[Turk]

Originally Posted By: demarpaint
Originally Posted By: Turk
Originally Posted By: demarpaint


The VXX will be all over the place IMO you'll have a few more shots at getting out with a gain.


"No Deal"

So, looks like I'll recoup...

Did you get out? It should be interesting later today..........


Nope, not high enough yet. We'll see what the week brings.....

 

[Shannow]

Originally Posted By: Drew99GT
Originally Posted By: friendly_jacek
This topping process is painful for both bulls and bears, LOL.

However, looks like gold/miners should bottom at these levels.


They had their chance. Gold and miners just went through a head and shoulders and will likely test their 2013 lows. I wouldn't touch them with a ten foot pole. I had a good trade in NUGT but the metals/miners keep finding resistance at the moving averages. They all broke their 200 week moving averages long ago. The trend is down until proven otherwise IMO. Getting sustained prices above the 50 day moving average and finding support on retest would be a good start.


http://www.marketwatch.com/story/gold-trading-briefly-halted-early-friday-2013-10-11?dist=countdown

Quote:
NEW YORK (MarketWatch) -- December gold GCZ3 -1.54% stopped trading on the Comex for 10 seconds on Friday morning after a big price move triggered a preset halt. The 10-second stoppage occurred at 8:42 a.m. Eastern time, said a spokeswoman for CME Group Inc. CME -0.18% , which owns the Comex. She said all trades will stand, adding that technology and markets functioned properly. Scott Carter, CEO at precious metals retailer Lear Capital, said the halt happened after a two-million ounce trade, but it wasn't clear who was behind the trade. Between about 8:42 a.m. and 8:43 a.m., December gold lost nearly $15, according to FactSet data. The contract was last down $29, or 2.2%, to $1,267.90 an ounce


Someone threw a $2B+ hat in the ring...but we don't know who ?

 

[Turk]

Bought some more LLY for the Roth today.

Anyone else own COP?? Man, that thing's been on a roll.

LNCO is doing well too. Who still has LINE/LNCO??

 

[JHZR2]

Still holding my LINE and LNCO...

 

[Turk]

Originally Posted By: JHZR2
Still holding my LINE and LNCO...


Yep, same here. Hard to sell with such a big dividend, unless you got a nice trade rise like Pablo did...

Europe has been rising, so that may be a place to take a look.