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Listen to Mark S. Young's Interview on MarketView
Interesting question: should the VIX be 10 with the market structure being what it is right now???
- new highs
- more and more selling "worthless" puts each month cause it keeps working
- cheap insurance available
I was trading in '93 and the VIX went to around 9 I think. I called a friend and asked him if trading was coming to an end. "94 was a very volatile year even though the year didnt have much net change...wild swings.
I realize most traders "seem" to be more bearish overall, but arguments can be made both ways....your thoughts?
355 Views · 5 Replies ( Last reply by alexnewbee )
I am super bullish now----from reliable sources I follow--2 groups that developed their own indicators.
231 Views · 2 Replies ( Last reply by ww4321 )
that's the key here as GDXJ has just taken out the March low at 32.66. The huge Q is whether we are now close to ending a large ABC decline from a 5-wave rally from Dec. to Feb? or if we are heading down to that Dec low. I lean to the idea we are ending a correction but will wait for evidence. I also think the GDX/HUI/XAU won't take out their early March lows and will soon bottom. KLDX's .618 retracement is at 3.39 which "so far" is today's low. I am about 18% long and watching closely for signs of a possible bottom here
262 Views · 7 Replies ( Last reply by dougie )
I'd heard the name John W. Henry before, but Michael Covel's Trend Following (2009) widened my eyes and expanded my horizons. Henry was a farm boy who formally got into commodities trading in the early 80's. Covel's table (p46) shows that between 1984 and 2003, Henry garnered a return of 29.14% compounded annually while the S&P gained 10.11% annually. Pretty good for the S&P, but astounding for John W. Henry. He now is retired from active trading, but is owner of the Boston Red Sox and the Boston Globe, and has interests in other sports areas as well.
But this post isn't really about John Henry. It's about Michael W. Covel's Revised and Expanded Trend Following (2017). I have no personal or professional connection to Covel, but I did draw considerable inspiration from reading the earlier edition. John Henry's story is one of ten accounts, but the book goes far beyond laudatory tales of great traders. Check out the table of contents. I've recently preordered the 5th edition of Trend Following (2017). It's published by Wiley and Sons, and is available from them, as well as other sellers. The work has been expanded from 437 to 688 pages, so I'm anticipating new levels of inspiration and ideas.
The link to Michael Covel's twitter feed is: https://twitter.com/Covel
You can find the book on your own.
As always, good trading.