Always use stops of course! If you buy near $3 after 5 waves down, stop out at $2.90 just in case.
Wednesday, October 8, 2014
Trade alert: TVIX is likely just a gap fill. Buy near $3.
From the looks of things right now, the big pullback today was a gap filler. Check out the a-b-c nature of it so far with that big triangle in the middle. It should explode upward very soon into 3 of 3. Probably based on some "unexpected news". Surprises at this point will be to the downside for broader markets, not to the upside. Maybe it will continue to form a bottom into the close or maybe it will reverse with 10 minutes but tomorrow is most likely to be a major selling day for the markets with TVIX reaching a new high very soon (higher than $4.20).
Always use stops of course! If you buy near $3 after 5 waves down, stop out at $2.90 just in case.
Always use stops of course! If you buy near $3 after 5 waves down, stop out at $2.90 just in case.
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4 comments:
Cap'n,
Perfect timing!
Thanks,
Steven B.
Been following you for awhile, I agree with buying TVIX now. It's going to happen real, real soon. Phil Collins put it nicely....
I can feel it coming in the air tonight, oh Lord
And I've been waiting for this moment for all my life, Oh Lord
Can you feel it coming in the air tonight, oh Lord, oh Lord
Guys I have been in this situation many times, the markets go manic near the end, don't know to shit or get off the pot. The bull can still gore us if we don't use stops. Look for today's market update for more but know in advance there is a clear cut trading plan for tomorrow.
Unfortunately it was "more than a feeling" (more than a feeling....)
; )
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