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Monday, May 28, 2012

$SPX - Volatility to Persist

A strong rally is brewing, and that looks likely for early June, but it is also possible that a dip occurs first.  So in the short term it is important now to watch for false breakouts that may not follow through just yet.

The main point is that it may take a little more time to truly solidify. 

30min Chart
Posted by at

50 comments:

  1. RBMay 29, 2012 at 5:18 AM

    Hi SC,

    When can we see your detailed gold & silver chart and analysis? You said it is close last week, we look forward to read your analysis. Please share your detailed ideas about gold & silver.

    Thank you,
    RB

    ReplyDelete
    Replies
    1. SCMay 29, 2012 at 6:16 AM

      Yes, I'll do an update early this week. Thanks.

      Delete
  2. SCMay 29, 2012 at 6:14 AM

    SCMay 24, 2012 11:22 AM
    Likely quiet into the long weekend. I think a moderate rally for SPX into Tues.

    ReplyDelete
  3. SCMay 29, 2012 at 7:55 AM

    XIV

    SCMay 24, 2012 11:05 AM
    "I'm thinking maybe it can pop to $9.60 or so next few days."

    ReplyDelete
  4. SCMay 29, 2012 at 7:56 AM

    Took the gain on XIV and sold at $9.70.

    ReplyDelete
  5. sun_shineMay 29, 2012 at 8:02 AM

    SC, Good trade there on XIV.

    Do you plan a short term trade on UVXY today?

    Thx.

    ReplyDelete
  6. SCMay 29, 2012 at 8:11 AM

    I'm currently debating that. 1335 is a zone of resistance for SPX. So it could be a false breakout. This is why I booked the gain, and will consider a short.

    Let's see how it shapes up next.

    ReplyDelete
  7. SS76May 29, 2012 at 8:45 AM

    Sold HVi at $7.93 and bought HVU at $4.84. Short term trade...

    ReplyDelete
    Replies
    1. SantaMay 29, 2012 at 8:53 AM

      Hi SS76

      I sold HVI at 7.93 this morning, bought HVU at 4.77, sold HVU 4.84...am thinking HVI maybe the trade now, nice pull back before end the day higher...this 1340-50 target may get hit today still...


      Thanks!

      Delete
    2. SS76May 29, 2012 at 8:58 AM

      Just sold HVU at $4.94. Hope I don't regret that move.

      Delete
    3. SS76May 29, 2012 at 9:12 AM

      Feel like I'm going to regret it so bought back at $5

      Delete
    4. SantaMay 29, 2012 at 9:13 AM

      I just bought some HSU...wait and see now mode.

      Delete
    5. SS76May 29, 2012 at 9:18 AM

      sold $5.06

      Delete
    6. SantaMay 29, 2012 at 9:19 AM

      forgot to say HSU at 12.769.

      Delete
    7. SS76May 29, 2012 at 9:22 AM

      Bought HZU at $4.50

      Delete
    8. choppyMay 29, 2012 at 9:34 AM

      hi ss76,
      i just cruise how much money you can make if there is 5c difference?

      Delete
    9. SS76May 29, 2012 at 10:00 AM

      Not sure I understand your question Choppy, but 0.05 on HVU is worth $300 so do that a few times and it adds up.

      Delete
    10. SantaMay 29, 2012 at 10:07 AM

      300$ is like more than a day job in McD or higher pay job. that awesome proft. do that a few time, you can make doctor type of pay day today. 5 cents is good profit I think.

      Delete
    11. choppyMay 29, 2012 at 10:57 AM

      which is very good.

      Delete
  8. joedMay 29, 2012 at 8:53 AM

    EMINI

    http://img848.imageshack.us/img848/4606/emini240529.jpg

    http://img836.imageshack.us/img836/1408/emini3.jpg

    http://imageshack.us/photo/my-images/585/emini2403.jpg/

    ReplyDelete
  9. GSKMay 29, 2012 at 10:33 AM

    Hi SC. Where do you think XIV will close today. Thx

    ReplyDelete
    Replies
    1. SCMay 29, 2012 at 11:06 AM

      Not too sure just yet. So far price is treading water here.

      Delete
  10. SantaMay 29, 2012 at 11:18 AM

    sold HSU 12.82...hehe, 5 cents

    ReplyDelete
  11. SantaMay 29, 2012 at 11:31 AM

    Hi SC

    Is there a target for UVXY you looking for to enter in near term?


    Thanks!

    ReplyDelete
    Replies
    1. SCMay 29, 2012 at 12:06 PM

      I'm going to give it some time to settle out here. Quite choppy right now.

      Delete
  12. SS76May 29, 2012 at 12:45 PM

    Really surprised Silver has not followed suit in this rally....

    ReplyDelete
  13. Harry235May 29, 2012 at 1:37 PM

    SC,

    Glad to hear you are going to do a gold report soon, trying to figure it out is driving me crazy. The USD just refuses to die.

    ReplyDelete
  14. GSKMay 30, 2012 at 5:45 AM

    Hi SC is it time to get into UVXY today? Do u think it will still be pretty choppy. Thx

    ReplyDelete
    Replies
    1. SCMay 30, 2012 at 6:15 AM

      Only minor upside for UVXY is possible here imo. Maybe could trade into $19's but $14's are coming within a week from my work. So I'm being fairly cautious with UVXY and more aggressive with XIV.

      Delete
    2. SCMay 30, 2012 at 6:16 AM

      There should be a good entry in the next couple days for XIV with a move to $10.45 next.

      Delete
    3. SCMay 30, 2012 at 6:22 AM

      For UVXY the bigger, better moves are coming in June. June is set to be extremely volatile.

      Delete
  15. SS76May 30, 2012 at 6:29 AM

    Silver? Actually its holding well this morning consider the carnage in the markets!

    ReplyDelete
  16. AMMay 30, 2012 at 6:35 AM

    SC, i take it your 1900's for gold and 30's for silver are off the table for a long long time now?

    ReplyDelete
  17. SCMay 30, 2012 at 6:49 AM

    I continue to see Gold/Silver finding support short term and I do think they will bounce well in June. Lofty levels are off the table, and after a bounce they will head lower. Silver has been in a bear market for over a year now.

    ReplyDelete
  18. SCMay 30, 2012 at 7:22 AM

    Ideally I would like to see XIV closer to $9.

    ReplyDelete
    Replies
    1. SantaMay 30, 2012 at 7:30 AM

      Hi SC

      Does that mean you will load up on XIV around 9$?
      confused.


      Thanks!

      Delete
    2. SS76May 30, 2012 at 7:35 AM

      SC, I think XIV has now seen its lows for today. This afternoon should recoup everything and actually go positive.

      I loaded on HVI $7.68 average because I feel the risk/reward is better than HZU, where I took a small loss selling my $4.50 buy for $4.38.

      Delete
    3. SantaMay 30, 2012 at 7:58 AM

      Hi SS

      opinion only, what your take on it as well.

      HVI seems to be having volume problem, just dont like how it react to the movement compare to the other evil like HSD or HJD, etc.

      you think it a better gainner?


      Thanks!

      Delete
  19. SCMay 30, 2012 at 7:44 AM

    Yes, I plan to load up on XIV around $9 roughly. UVXY may have a touch more to go I suspect over the next day or so, but then a surprise slam down to $13-14 is coming for UVXY imo!

    ReplyDelete
  20. joedMay 30, 2012 at 8:56 AM

    SILVER

    http://img36.imageshack.us/img36/7413/silver240.jpg

    ReplyDelete
  21. SS76May 30, 2012 at 8:57 AM

    oh why did I sell silver..

    ReplyDelete
  22. MikeMay 30, 2012 at 10:47 AM

    eur/usd

    Just an observation on symmetry. Not really sure what it means for low it can get.
    http://oi48.tinypic.com/2sacie9.jpg

    ReplyDelete
  23. SCMay 30, 2012 at 12:57 PM

    Bought 50% XIV at $9.10.

    ReplyDelete
    Replies
    1. SCMay 30, 2012 at 12:59 PM

      I think it is close to bottoming. There might be a little more...

      Delete
  24. SantaMay 30, 2012 at 1:40 PM

    Hi SC

    Is this bullish call a short term play like for a couple days? or we talking about bullish play for a week or two?


    Thanks!

    ReplyDelete
  25. SCMay 30, 2012 at 1:50 PM

    SPX should rally into June 5-6th.

    ReplyDelete
    Replies
    1. SantaMay 30, 2012 at 1:57 PM

      Hi SC

      you have some sort of chart to show this rally? so far, I have a few sources that we will be going diving down deep into June 4 - 5, I mean like targeting like 1275 ish even. Like to see your reasoning.


      Thanks!

      Delete
  26. SCMay 30, 2012 at 2:03 PM

    Yes, charts are coming.

    ReplyDelete
  27. SantaMay 30, 2012 at 2:49 PM

    Hi SC

    Looks like I am getting some noise that we may hit this bottom tonight or tomorrow even. and then we explode upward. You may be on to something.


    Thanks!

    ReplyDelete
  28. ChicagoMay 30, 2012 at 3:43 PM

    What do you mean by noise? Tia

    ReplyDelete

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