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Tuesday, November 26, 2019

UVXY - Short Term Target

UVXY is likely forming a low this Thanksgiving week, and up into December 13th with the next Tariffs in the China trade war hitting on December 15th.

30min Chart

61 comments:

  1. UVXY target $16's due December 4th or 5th.

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  2. SVXY is clearly overbought now.

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  3. Sc. Spx will pull to 3080 and go higher

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  4. So uvxy 11. In jan. What is your target for spx

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    1. Yes, January is going to be an exciting month. The target will be posted in two weeks. First we have December.

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  5. What do you expect to happen between the 5th and the 13th sc? A bounce then a final low?

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  6. SPX is at a high and will drop for two weeks into the next tarrif date which is December 15th.

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  7. SVXY overbought and drops to $59 next.

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  8. How is vix up 5.4% and uvxy only up about 1.5 ?

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    1. It's the same issue with the VIX futures curve. It's a steep curve until January. There's a cushioning effect.

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  9. SC: Any thoughts on natural gas?

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    1. Ya, I'm watching that too. Hit bottom of trendline from August. Same with WTIC, hit bottom trendline from October

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    2. I don't follow natural gas that closely, but the turns are generally correlated with equities.

      So natural gas formed a high in November and expect a low in December. Probably low soon in the first half of December.

      It did fill down to October. Maybe a little lower but not much. Second half of December can perform better.

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  10. Expect selling into Wednesday's impeachment hearing which will occur one day after the House Intelligence Committee votes on a report that will make the case for the president’s impeachment.

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  11. I try to base my bi or selling On technical events not all rumors

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    1. Yes always, this was text book short entry. Markets selling off overbought conditions, but we also had the correct timing coinciding with events.

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  12. I'm hoping for 16 on UV XY and then I'll short this piece Of crap

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  13. TVIX split is complete. Good opportunity there.

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  14. When I see The VIX up $2 UV XY update the 99 cents is disturbing to me that's why I dumped it

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    1. It's the VIX futures, but yes generally good to be conservative until January because of the curve.

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  15. Notice there we now have Bitcoin in alignment. Correlated with equities. It needs to consolidate first, but Bitcoin getting ready to run in the second half of December.

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  16. VIX tested the July low and rectangle support and, as expected, we see the strong reaction.

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  17. Most of this leg down is done. A little more selling tomorrow with the impeachment vote.

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    1. what price are you willing to unload UV XY

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    2. Probably see mid to high $16 near the orange line.

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  18. Some one bought Jan 2980 puts spx in tune of 31million bucks 16000 options

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    Replies
    1. January will be an interesting month...

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    2. Louis. I don't really understand puts and calls. Can you let me know what this person is thinking will happen in January. I assume a test of 2980. Thanks much!

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  19. Today or tomorrow plan to switch out UVXY and into SVXY.

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    1. smart choice if you could short tvix would be a good choice aswell that might move down hard

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    2. Haha, thanks Louis! This is very nice.

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  20. sc so you are think that SPY could be bottom here and then run up until january before next leg down?

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    1. There will be a strong bounce starting tomorrow. I'm still expecting lower December 13th. Other than that yes, agree.

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  21. Brutal... another day of vix up 18% uvxy up 14%

    this vehicle is useless...

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    Replies
    1. It's okay. Just the VIX futures curve. This is just a warm up. In January the issue will be resolved.

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    2. I know Sami it is annoying, but the patience will be rewarded.

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  22. SC.. what are you seeing for UVXY after it hits 15 by tuesday?

    Thank you

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