Sorry I have not had much time to post here. Two reasons though. One, on vacation. Second, there is not really any news around the market to report and the status quo stands... We are in a trading range until we hit the meat of earnings season. We are in a topping process that will eventually give away to bears but when that happens is hard to say. The easiest thing to say is when market gets in the 925 range, it is time to sell or go short. When it gets in the 900 range, cover or perhaps buy a few things but remember, we are topping out so you don't want too many eggs in the long basket.
Good luck. Headed out to the boat now. I will look for a job later. My mind is not into it yet.
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BS, are you still bullish on ung?
ReplyDeleteadwords, I did not like todays action and technicals had a break down. but the candlestick formation appears to be a reversal pattern. It also needs to stay about 12.50 to avoid a complete breakdown. either way, i have my finger on the trigger in case of a total breakdown. but again, these are october options. if there does appear to be a total technical breakdown (which is pretty close at this point), i have to exit and wait for a better opportunity
ReplyDeletehttp://vixandmore.blogspot.com/2009/07/timing-of-vix-bottom.html
ReplyDeleteU will love this guys blog....
bs, any thoughts on ung at this point?
ReplyDeletelooks like it may have bottomed