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Thursday, September 20, 2012

UVXY - Wedge Update

Yesterday, the price closed above the wedge.  Even so, a lower low is still possible in coming days.  Volume continues to be well above average. 

The short term target remains at $43.

30min Chart

29 comments:

  1. Is your minimum target for HVU still $720? lol

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    Replies
    1. The bigger picture targets are the same. I am just showing the short term views at this point. Bigger picture charts will be coming soon.

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  2. Hi SC

    Did you had a chance to sell your UVXY this morning during the bounce in it? Or you still keeping hold all your position and just waiting here.


    Thanks!

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    Replies
    1. Just a waiting game. Buying the dips.

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  3. If we would have gone long XIV in June we would have doubled our money by now...

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    Replies
    1. I was long XIV for much of June. Made profits then, but yes, it has had a nice run.

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    2. SC...it seems you ALWAYS make money. yet, I always read you get caught on these 30% downdraft. How do you do it?

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    3. Out of the last 4 trades 3 were wins and the last one I did get caught in a downdraft. The point of this strategy though is that my large cycle is due and suggests high volatility ahead. This strategy will catch that move.

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    4. Your larger cycle has been due since June. You need to read what you write. Your performance has been disastrous in a year when the indices are up 10%.

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  4. Looking at your chart, it looks like your dip can go to $23....am i reading it correctly?

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    Replies
    1. No, the chart isn't meant to suggest that. A lower low could still be possible.

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  5. It seems all the posters are now gone to Change in Trend with ZZ. Can not blame them. ZZ has been spot on. You do good work and people follow.

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    Replies
    1. cause SC aint posting the longer term forecast yet. nothing much more to talk about here for me, since i am more medium to longer term trader...

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  6. I'm just waiting for some of the short term gyrations to finish playing out.

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  7. TIME TO BE AWAKE!!

    DOW

    http://traderjoed.blogspot.com/

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    Replies
    1. Hi Joed

      Are you expecting a massive sell off here soon with those big red arrow? Cause that first big red arrow on the left didnt really do a whole lot in term of big sell off so far.

      Thanks!

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    2. LOL.........

      They are together..........producing the window in time! A trader still has to be able to enter and exit! joed

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    3. ALSO the Crude chart is posted.........then and now! joed

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  8. UVXY targets posted yesterday...see chart in the blog web site under my handler

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  9. SC- You have the patience of a Saint
    **
    Monday appears to want to open at a peak high-turn
    and head considerably lower thru Tuesday -SPT25th

    Jaywiz POWER DATA supports that scenario also
    IT depicts one week trading & is available
    each week on Sunday evening for the week ahead.
    Jay
    OF course, I expect Some NASTY comments every time I post here- SO BE IT !!- WHAT GOES AROUND WILL COME AROUND

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    Replies
    1. Damn you Jay...you SOB

      Just kidding :)

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    2. WIZZ.........

      And your the victim..lol You mean every time you advertise here.....right? hahah And you now discovered the 110/144 day cycle????? hahaha

      You can fool some of the ppl some of the time.....BUT

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    3. jay, if you are half as good as you think you are, no one would be nasty to you.

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    4. Cbear2

      It's in his blood to ignore that point .......AND now he found the 144 day cycle???? TOOOOO MUCH!! He needs to get a job and quit preying in the newbies!

      Delete
  10. hi SC,
    what price are you targeting to fill your final 25%?

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    Replies
    1. I've been waiting to see if it can make a lower low. It's getting close. $26ish could be possible though it will be difficult to pinpoint exactly.

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    2. thanks
      I just went in with 50%. I think we are getting realy close

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  11. SC, do you see a positive or negative cycle next week ?

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    Replies
    1. The week is negative though I'm not ruling out a pop early in the week. I'll have charts coming, and the big picture is very bearish.

      Transports already collapsing.

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