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VIX bull flag.

Started by ogm , Apr 18 2013 01:37 PM

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6 replies to this topic

#1 ogm

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Posted 18 April 2013 - 01:37 PM

Market looks broken and dangerous as hell, and yet there is a parade of dip buying today, just as we're trying to break a very important support at 1540.

And going into today sentiment was 2 to 1 positive too.

No one seems to believe that this market can go down.

I'll take a wild guess that VIX hits well over 20 before this drop is over.

There is a [bleeep] of very important earnings like IBM and GOOG today too. Can create for quite an OPEX opening tomorrow.

Posted Image

Edited by ogm, 18 April 2013 - 01:39 PM.

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#2 opinionated

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Posted 18 April 2013 - 02:16 PM

No I think the believe its near the bottom, Which hit at 3:00 I was calling 1530 target in.

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#3 ogm

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Posted 18 April 2013 - 02:21 PM

No I think the believe its near the bottom, Which hit at 3:00 I was calling 1530 target in.

I guess IBM and GOOG and the mood their earnings generate will resolve this argument after the close.

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#4 ogm

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Posted 18 April 2013 - 02:25 PM

Looking at this chart, can anyone honestly say that under no circumstances the next candle is not a big red candle ?

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Edited by ogm, 18 April 2013 - 02:28 PM.

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#5 opinionated

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Posted 18 April 2013 - 02:58 PM

No

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#6 ogm

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Posted 18 April 2013 - 03:06 PM

No

IBM .. ouch.. down 9 points. GOOG back to flatline. So its somewhat a wash. Though IBM is definitely bad news for the DOW. MSFT beat and is up 18 cents, so doesn't compensate much ..lol.

On the balance of all this data, ES futures are down 1 point since the close.

Edited by ogm, 18 April 2013 - 03:10 PM.

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#7 diogenes227

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Posted 18 April 2013 - 03:36 PM

Some notable longer-term sells in recent times (just the sells -- below 15 and back above again), and likely, for what it's worth, we will see another tomorrow:

http://stockcharts.com/c-sc/sc?s=$VIX&p=W&yr=10&mn=0&dy=0&i=p86028980960&a=193156912&r=1366317197025.png

Edited by diogenes227, 18 April 2013 - 03:39 PM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."

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VIX bull flag.

#1 ogm

#2 opinionated

#3 ogm

#4 ogm

#5 opinionated

#6 ogm

#7 diogenes227

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