PAGING SB73
I went to my schwab platform yest, focused only there (SNAFU on stkcharts; AWOL here).
Longed VXX again on the breakout, so I got only half of what u/TVIX got. I am VERY happy.
19 stick squeeze yest on VXX/TVIX (both have same candlestick structure). NINETEEN STICKS (depending on where u start count, your stick count will vary). Nineteen.
SSSSSQUEEZE ANALYSIS:
(SB73: This kool-aid applies ONLY to intraday scalping, not overnights). EVERY sqz is unique.
This is TVIX 5 min yest (vxx same)…
http://screencast.com/t/fA77ukUq95
LESSONS LEARNED: she can sustain a coupla little red sticks (many squeezes can’t)… little bitta red….not much…. See red sticks #4/6/11/12, all tiny, none even touched the upper MA, and she called this a pullback! Usually “elevator” squeezes have no pullbacks. The BEST pullback without exception is a “horizontal” pullback, second best is a nice little small quiet flag-ish thing, maybe touching or maybe tail inside the upper MA, but NO body piercing upper MA… then continuing higher…ANY pullback that closes with a medium/big red stick or a stick with half its body piercing ma IS IMMEDIATELY SUSPECT….
not her…not yest…gorgeous little horizontal pb….
I’ve programmed my brain to split sell orders and feed them to the beast on the way up, it always varies based on the
quality of the sticks. After the two little reds together, each stick was a PERFECT squeeze stick, each hit a higher high (any and all tails/shadows are fine), each stick closed green, didn’t even graze the higher ma,
PARABOLIC is the term at/near stick #15. Perfect sticks, so each sell order I fed in was at limit HIGHER than the bid, as I could SEE them reaching for it, stretching. By stick #17/18 I’m all out, early, even tho sticks are still perfect. Watching and waiting to see when, where and HOW she will exhaust (why is not impt), she has to exhaust soon, oy. You can see she’s way too high, just in her amplitude above the pink “baseline” VWAP.
U can even take a simple ruler and measure the distance for future reference.
I’m out, what do I care? Because I am totally captivated by her…. I must watch/learn her moods when she finally exhausts.
That will be valuable info I may use later…
Yesterday was aslo perfect to SEE her potential for ripping faces off going down. Oh, she is breathtakingly brutal (but we HAVE seen worse on the way down, YES we have). Must watch her rip face; it’s not my face so I can watch dispassionately and learn…
On the final stick you could FEEL the gravity pull, in minute one two three four five, all red the whole five min, I had nothing left to sell, if I had, it would have been at limit MUCH LOWER than bid, to get out quick (NO pending pending pending, MUST get confirmed execution quickly). She ripped face on one single 5 minute stick….
must assume more ripping will follow. That’s what I meant when I said that “exiting on red sticks can be challenging” (I was trying to say it nicely, so as not to scare the children).
Zoom in, print out yesterdays chart b4 it refreshes Monday, put on fridge, so many lessons there.
This was truly a thing of beauty, pure sheer beauty…a classic elevator squeeze, wherein we were lucky enough to be long (lucky because impossible to predict), a marvel to behold, magic, better than …… well you know….better than all the rest…
[CAVEAT: Yesterday was perfect; they are often imperfect.]
She is very special SB73, she can go 20%+ on an intraday squeeze AFTER a gap, OMG, she deserves our utmost respect and our fervent study. She did much more in Aug last yr….she did it yesterday…we KNOW she will do it again…whenever she feels like it. I will never again call her a wench, that’s a promise.
PS THANK YOU BULLTART FOR YOUR CHARTS, YOUR PERSISTENT UPDATES, etc…You ‘da man
