Friday, June 27, 2014
TVIX fish tail.
The DJIA continued its retracement today and so TVIX meandered down instead of breaking out. Soon enough folks. Likely late Monday or early Tues we should begin to get some movement up and it bothers me to say that because we generally do not see the start of a sell off begin right before a holiday. Time will tell but I think we are 1-2 trading days away from seeing some early market fireworks begin to go off.
Cap'n
ReplyDeleteWas stopped out this morning at $2.99, what does your model say about re-entry price?
Steven B
To be safe, wait until it goes back up above $3 OR until it does a throw under of the ending diagonal down to $2.60. We are in the final stages here but they can move the price of this around significantly before it's over. I was always skeptical that a real sell off would begin going into the holiday weekend so we should be paranoid and skittish for the remainder of this week. Next week I think we see the big down turn kick in.
ReplyDeleteThanks, Cap'n...
ReplyDeleteyou're a good man in a storm.
Steven B