10 replies to this topic

[Mr Dev]

Taking profits at the close and FLipping long into the RUT .. more information to follow. This is a very aggressive trade and really for those that may have caught this 3 day super point decline. I'll share some new charts that lead me to take the long in the face of my own crash alert days ago.

Edited by Mr Dev, 07 June 2007 - 03:04 PM.

[Russ]

Vix did not go back up to it high on this last big volume decline. This is smelling like capitulation, at least for the short run.

[Mr Dev]

Vix did not go back up to it high on this last big volume decline. This is smelling like capitulation, at least for the short run.

Beware tho Vix is on a NEW trend (until it changes ) fighting it could be deadly!

Edited by Mr Dev, 07 June 2007 - 03:10 PM.

[jjc]

Vix did not go back up to it high on this last big volume decline. This is smelling like capitulation, at least for the short run.

Beware tho Vix is on a NEW trend (until it changes ) fighting it could be deadly!

Mr Dev,
Thx for your posts!

jjc

[rkd80]

I too went long at EOD, plan to flip back tomorrow. However while I have targets for the longer term down-trend this bounce is tough to play. Wonder what your potential targets are for this bounce on the NDX/QQQQ. Comforting to see you playing this bounce too

[Russ]

Beware tho Vix is on a NEW trend (until it changes ) fighting it could be deadly!

Could be but today's 60 minute has as shape to it that quite often leads to complete retracement as well as a shooting star type candle.

[rkd80]

Beware tho Vix is on a NEW trend (until it changes ) fighting it could be deadly!

Could be but today's 60 minute has as shape to it that quite often leads to complete retracement as well as a shooting star type candle.

The shape does indeed beg for a retrace and today's CPCE is extremely high - I am seeing a reading of: 1.19! That is extremely high, highest in a year+! I will still be shocked if we retest the highs, but for now this ratio is quite staggering...

[Mr Dev]

Beware tho Vix is on a NEW trend (until it changes ) fighting it could be deadly!

Could be but today's 60 minute has as shape to it that quite often leads to complete retracement as well as a shooting star type candle.

youre right Russ, just checked my 60m also, but here in lies the art,.. although the 60m is OVER-bought,... it also looks as if it

is into a territory where it could run,...(wave 3 for those watchers)... add to this that the 60m trend for both the

VIX and VXN are now up...whatch gonna do?

My thoughts,..take faster trades on longs and flipp-em over to shorts, at least untill there are signs of either a

trend change, because I pretty sure my trend charts changed to a bear trend today, or this thing washes out.

And please don't forget I have a rare Crash Set Ups on some charts!

One is the same as the 98 sell off that took off 20% from the Dow

Edited by Mr Dev, 07 June 2007 - 03:42 PM.

[Russ]

This chart I posted earlier says it all...its done...toast...fini...caput. Ability to get back into that wedge is highly unlikely and if it should poke in there shorting would seem the prudent thing to do.

[Mr Dev]

Yup there's trouble with a capital T.

Hey give me an Updated chart next time...hehehe

The Parallel line should show some support.



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Wait ,... I just gotta give myself one of these,....... :bowrie: for that last DOW call !

Edited by Mr Dev, 07 June 2007 - 06:33 PM.