Many traders have this on their radar I think, thus the buying on the dips. My theory is that *if* we see this pattern fail, that we might get the VIX to break out to the upside and some serious downside action. That would be a cherry on the top of one bear of a year.
BH: i ant to agree with your thinking. believe me, i'd love to get long 1000 skf again and see it shoot up 10-20 pts but scanning thru my charts tonight. ALL and I mean ALL the inverse funds are setting up bear flags on the 30-60 min frames and i am expecting them to break down in tmrw's session. So, in essence i am expecting big upside soon. good luck pal.
Many traders have this on their radar I think, thus the buying on the dips. My theory is that *if* we see this pattern fail, that we might get the VIX to break out to the upside and some serious downside action. That would be a cherry on the top of one bear of a year.
ReplyDeleteBH: i ant to agree with your thinking. believe me, i'd love to get long 1000 skf again and see it shoot up 10-20 pts but scanning thru my charts tonight. ALL and I mean ALL the inverse funds are setting up bear flags on the 30-60 min frames and i am expecting them to break down in tmrw's session. So, in essence i am expecting big upside soon. good luck pal.
ReplyDeleteant = want
ReplyDeletebig upside on the indexes that is: sorry, it's almost bed time for baby stewie :-)
ReplyDeletethx stewie. Looks like they've (the inverses) at least broken to the upside as I suspected. Follow through will be the question.
ReplyDelete