got stop out, I will buy the next dip one more time before I called it a day. this is why most traders don't trade range day, I just want to do it today for the hell of it.
My comments are for entertainment/educational purpose only. NOT a trade advice.
I treat today as a range day although it may push all the way up to the yesterday's high.
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For swing, yesterday's range is what it matters, inside day will just dance around until it breaks out one way or the other. boring day lets talk charts.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Just read the article featuring Charlie the wonder boy's charts at Zerohedge. Good grief why is no one showing a strategy to trade the VIX. I had no idea as I don't follow it closely. Talk about a monthly money machine. And the explanation was there for all to see, too many traders in the ETNs overwhelming the market. Sort of like a parasite becoming too big for the host. Since ETN's are the weapon of choice for the low interest investor this could continue for some time.
Edit- low interest as in not caring or paying much attention.
Trades with cats wrote:Just read the article featuring Charlie the wonder boy's charts at Zerohedge. Good grief why is no one showing a strategy to trade the VIX. I had no idea as I don't follow it closely. Talk about a monthly money machine. And the explanation was there for all to see, too many traders in the ETNs overwhelming the market. Sort of like a parasite becoming too big for the host. Since ETN's are the weapon of choice for the low interest investor this could continue for some time.
Edit- low interest as in not caring or paying much attention.
Oops, thanks for the link Pasta Boss. Really though seven months in a row of the same mechanical results in price swings you would think every hedge fund in the universe will be piling in. This is right up there with fading Dennis Gartman!
It's Deja Vu all over again the night and day version.
Those orange point of control lines show we are trading in a very comfortable place from an auction point of view. Need some news to unbalance things.
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don't know whether it's a double top here. one thing is certain now - indeed it's a range day.
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