10/15/2012 Live Update

[Cobra]

target met.

[Mr. BachNut]

OK. Bulls have pulled things back from the edge.
VIX contract expires Wednesday morning at the open.
So, this jaded trader will expect a low in VIX by tomorrow afternoon or Wednesday morning.
Not a prediction. Just a bias.
The Vixie traders may have some index plays to work over the next 48 hours.
Will have to wait and see what's in store for OPEX after VIX EX is done.

[Cobra]

members only update at 12:56pm: http://www.cobrasmarketview.com/2012/10 ... ay-update/

[Cobra]

this bull has legs, bears don't fight.

[Cobra]

just don't forget, it's general who leads the charge.

[Al_Dente]

OK. Bulls have pulled things back from the edge.
VIX contract expires Wednesday morning at the open.
So, this jaded trader will expect a low in VIX by tomorrow afternoon or Wednesday morning.
Not a prediction. Just a bias.
The Vixie traders may have some index plays to work over the next 48 hours.
Will have to wait and see what's in store for OPEX after VIX EX is done.

But boss they roll a portion of the VIX contracts every single day, they don’t wait until today and tomorrow to dump all the front month, they do it gradually every day.
At least I know that is a fact for VIX [edit: i meant XIV] and VXX and UVXY.
That is designed to cause minimum impact on Wednesday opex
What am I missing here?

[Cobra]

lunch time, will be back. should be more up ahead.

[Out of Bounds]

Closed my longs on Cobra's target and now sitting on my hands. BTW Cobra, that last trade was the largest trade I have ever made because of my confidence in that target - thanks.

[MrMiyagi]

[fehro]

if this is a triangle... 1430ish next stop? retest of wedge?

[TWT]

SPX: This bounce is strong enough to consider done the wave (A)

[ClarkW]

Appears I was premature (happens to the best of us sometimes, right?) on stating another leg for DUST. Maybe we are here, either way I'm still 100% DUST with no NUGT yet.

[Out of Bounds]

Long SSO 61.01

[Me XMan]

Looking for SPY to break $144 today and then $145 by end of week.

[Cobra]

this pullback has legs then usually resume up.

[Cobra]

fib info.

[Mr. BachNut]

OK. Bulls have pulled things back from the edge.
VIX contract expires Wednesday morning at the open.
So, this jaded trader will expect a low in VIX by tomorrow afternoon or Wednesday morning.
Not a prediction. Just a bias.
The Vixie traders may have some index plays to work over the next 48 hours.
Will have to wait and see what's in store for OPEX after VIX EX is done.

But boss they roll a portion of the VIX contracts every single day, they don’t wait until today and tomorrow to dump all the front month, they do it gradually every day.
At least I know that is a fact for VIX [edit: i meant XIV] and VXX and UVXY.
That is designed to cause minimum impact on Wednesday opex
What am I missing here?

Nothing. I am just making an anecdotal observation of price behavior around expiration. The contract price seems to often (not always) trend into expiration (up or down) in the final (it looks like 3) days.
I don't know if it is roll mechanics. I just find the index seems to go to a place and the expiring contract follows to close the spread.
So, I am speculating we're downtrending into this one.
I haven't done a study on this, so I don't know if there is a tradeable set-up here.
Hence, I said it is a bias not a prediction.

[Cobra]

maintain there might be a small down leg. I have to leave for about 30 to 60 min, good luck guys.

[Me XMan]

NOOOOO...don't leave us fishes here alone !!!!

maintain there might be a small down leg. I have to leave for about 30 to 60 min, good luck guys.

[Out of Bounds]

144.2 anyone? Anyone else see that as an upside target for today?