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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

50 comments:

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

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

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  3. XIV

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

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  4. Took the gain on XIV and sold at $9.70.

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  5. SC, Good trade there on XIV.

    Do you plan a short term trade on UVXY today?

    Thx.

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  6. 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.

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

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

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

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

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    5. forgot to say HSU at 12.769.

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

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    7. 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.

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    8. 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.

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  8. 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/

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

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

      Delete
  10. sold HSU 12.82...hehe, 5 cents

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  11. Hi SC

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


    Thanks!

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

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

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  13. 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.

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

    ReplyDelete
    Replies
    1. 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.

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

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

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

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

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  17. 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.

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

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    Replies
    1. Hi SC

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


      Thanks!

      Delete
    2. 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. 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. 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!

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  20. SILVER

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

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  21. oh why did I sell silver..

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  22. eur/usd

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

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

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  24. 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!

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  25. SPX should rally into June 5-6th.

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    Replies
    1. 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. 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!

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  27. What do you mean by noise? Tia

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