Can't resist that August 3400 call at $20 and the 3500 at $7.00 so had to sell them, this is getting overblown and just a little down turn by Friday will see the premium plummet. I'm shocked to even see the July 3300 call that expires this Friday to still be trading at $4, way to much exhuberance there!! Btw just got my average short to 3201 lol!!
The Great 2020 Virus Bubble - near the end
Started by
dTraderB
, Jul 13 2020 06:12 AM
137 replies to this topic
#13
Waver
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Posted 13 July 2020 - 11:54 AM
VIX being up almost 5% when the market is breaking out of month long holding area.
Wouldn't think that is good.
#14
salam
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Posted 13 July 2020 - 12:26 PM
As I explained in the past, I use SP futures to swing trade the trend, and VIX etfs to short at important turns.
breadth is very healthy,, and the Dow appears to be leading the charge, instead of tech today.
When the generals lead, being short is not the best strategy.
However, I find myself in a healthy profit with my SP swing long ( I’ve been short below 3100 and long above) but also in a healthy profit with my Vix ETF futures long.
covid cases and now deaths are rising. A second wave and possible second shutdown maybe inevitable. With results season starting, a perfect storm is definitely brewing.
The trend is your friend. Use stops. Trade safe.
Edited by salam, 13 July 2020 - 12:34 PM.
I'm not sure what my future holds... But I know who holds it.
#15
pdx5
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I want return OF my money more than return ON my money
Posted 13 July 2020 - 12:53 PM
As I explained in the past, I use SP futures to swing trade the trend, and VIX etfs to short at important turns.
breadth is very healthy,, and the Dow appears to be leading the charge, instead of tech today.
When the generals lead, being short is not the best strategy.
However, I find myself in a healthy profit with my SP swing long ( I’ve been short below 3100 and long above) but also in a healthy profit with my Vix ETF futures long.
covid cases and now deaths are rising. A second wave and possible second shutdown maybe inevitable. With results season starting, a perfect storm is definitely brewing.
The trend is your friend. Use stops. Trade safe.
There is no worse feeling than exiting a train prematurely. Trend is the friend!
But then again, markets will not stop fluctuating.
I am so tempted to liquidate 25% longs today.
Will be watching last hour of trading carefully.
Edited by pdx5, 13 July 2020 - 12:55 PM.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#16
12SPX
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Posted 13 July 2020 - 02:46 PM
Nice little turn so unexpected lol!!1. 
Ok last little bit here profit stop 3180
#17
dTraderB
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Posted 13 July 2020 - 03:12 PM
Wow! My best day in months!
Stunning reversal! Will update later.
Stunning reversal! Will update later.
#18
salam
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Posted 13 July 2020 - 03:36 PM
Longs stopped out at 3218 cash, where I reversed short.
vix spike up was inevitable.
a lot of internal damage today.
But trend is still up.
closed my SP short at the close. Just long Vix ETFs
Edited by salam, 13 July 2020 - 03:39 PM.
I'm not sure what my future holds... But I know who holds it.
#19
12SPX
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Posted 13 July 2020 - 05:29 PM
Okay took profits on my shorts for a 51 point profit and the sold calls are looking pretty good now. Think I'll build shorts again overnight.....
#20
salam
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Posted 13 July 2020 - 09:09 PM
Interesting that the trigger for the sell off was California locking down again ( not resistance and nose bleeding internals)
I’ve resisted going long overnight, which I’ll probably regret.
shorts need to be careful, the bull isn’t dead yet
Edited by salam, 13 July 2020 - 09:12 PM.
I'm not sure what my future holds... But I know who holds it.
