TraderGirl wrote:VIX is 5.6% away from it's lows, and yet TVIX is about 15.5% from it's lows....
Since watching TVIX, that is usually where the smart money is. It's moves usually indicate where the market is going...and I think it is saying that it's not buying into this rally...IMHO
I am not saying we can't go higher on Tues/Weds, as that is my target for a potential top, (and maybe today was that top, who knows in this market) I just think that we will not continue to go up forever without a correction that takes people by surprise, since VIX is indicating there is not much protection out there...
In the next major correction, I think TVIX may go up to $30 and $VXX may go up to $35.
well, guess that's it for today. No idea what the next Tuesday will be. The seasonality is of course bearish, but who cares, doesn't work anyway. thank you guys, I'll see you the next Tuesday!
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Price trend Can be up (66% have a rising price trend) or down (34%) leading to the pattern.
Shape A megaphone tilted up with the bottom horizontal.
Trendlines The bottom trendline is horizontal, the top one slopes upward.
Touches At least two peaks and two valleys should touch their respective trendline.
Volume Trends upward 54% of the time and downward 46% of the time.
Breakout Downward 66% of the time.
TraderGirl wrote:I love it when "Cramer" followers get so cocky when the market is up, think it goes up forever just cause "Cramer" is so bullish, pitching any stock he can get his hands on... then they whine when the market is down, wonder why they have lost so much money... boo-boo!!
I'd call Cramer a prostitute, but I'd have to apologize to the working girls. I loved John Stewart nailing him as a market manipulator when he appeared on his show. His 15 minutes have lasted far too long.