UVXY has been cooling off, and may be getting ready to spike soon. Price should settle back some more though as the timing matures. Maybe a week to go which coincides with month-end.
This was correct. SPX is catching up this week with the drop SVXY already made earlier in the month. SVXY lost half the rally from December. SPX is catching up.
This is why UVXY is underperforming at the moment, but it'll spike when it's ready...
SCMay 13, 2019 at 8:07 AM
"I think for SVXY watch for low this week and for SPX low due next week."
The fact we couldn't get above SPX 2800 this AM look really ominous to me. I wouldn't be at all surprised if we have another waterfall decline in the coming weeks like December,and revisit the December 24 low.
SPX can go as high as 2,880 on this move but the rule is don't try to push it too far on the last move. 2,860 is enough. Always sacrifice a little to the market gods to appease them.
got you beat, as stated here week or 2 ago, gap at 2707 needs to be filled before big move north....its begging for it..still short... its very easy to see on daily
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Peter Ghostine
@PeterGhostine 1h 1 hour ago
More We'll be covering all of our $SPY and $AAPL shorts this morning in the 2741-2753 area of the $ES. But we'll look to reestablish those shorts upon a rally back to the ~2,790 area. The final descent should target ~2,700.
This bar is very positive in the model which is why we see the sharp rally. Doubt it'll settle much but it does need some consolidation 2,800 to 2,830 before it rises to 2,880.
UVXY tested $33.60 and made a little pop yesterday.
ReplyDeleteSCMay 17, 2019 at 9:43 AM
"UVXY could see the gap $31.50 to $33.60 tested or filled."
SPX plunged on May 23rd. It was very close yesterday but SPX hasn't put in the lower low yet. Still possible 2,795 next week.
ReplyDeleteSCMay 20, 2019 at 10:05 AM
"Lower low probable for SPX this week. Remember our model predicts a low this week by May 24th."
This was correct. SPX is catching up this week with the drop SVXY already made earlier in the month. SVXY lost half the rally from December. SPX is catching up.
ReplyDeleteThis is why UVXY is underperforming at the moment, but it'll spike when it's ready...
SCMay 13, 2019 at 8:07 AM
"I think for SVXY watch for low this week and for SPX low due next week."
SPX 2,795 then 2,860.
ReplyDeletelooks like 2795 taken out
DeleteVix ain't acting like a drop is coming
ReplyDeleteSc where are we now
ReplyDeleteWe've seen the drop, now let's see the pop! 2,860 SPX.
ReplyDeleteSC, another great call!
ReplyDeleteAre you selling UVXY and buying UPRO?
Might as well!
DeleteSc got rid of uvxy earlier
ReplyDeleteGood trade!!
DeleteSold UVXY $39.20.
ReplyDeleteBought UPRO $46.25.
ReplyDeleteDone!
ReplyDeleteSCMay 13, 2019 at 10:21 AM
"DOW down 700. 300 more to go."
And done!
ReplyDeleteSCMay 9, 2019 at 10:59 AM
"So far this is a quite shallow pullback. Technically the level to watch is a retest of the March dips. 2,770."
short uvxy at 39.50 out of all shorts
ReplyDeletesc what is your uvxy target to the downside and svxy
ReplyDeleteUVXY is going to go up HUUUUUUUUGE starting tomorrow.
ReplyDeleteI believe after June 3rd just takin short term trade up to 2860 then out
DeleteSc what is your target in upro 49 ?
ReplyDeleteAnd also short term uvxy 35
sold uvxy pre market nice profit over nite
ReplyDeleteUVXY $31.50 technically but possibly as low as $30. SVXY has already hit its $53 target.
DeleteUPRO $50.
so ur thinking gap fill uvxy im gonna short again if she pops up the only problem i have to hold overnite because hard to borrow program
Deletesc what do you think about this chart
ReplyDeletehttps://imgur.com/a/23uAslE
maybe after a pop to 2850 then a drop
ReplyDeleteThe fact we couldn't get above SPX 2800 this AM look really ominous to me. I wouldn't be at all surprised if we have another waterfall decline in the coming weeks like December,and revisit the December 24 low.
ReplyDeleteIt will buy the 3rd of June in my opinion
DeleteWith UVXY being down 3 weeks, it is a confirmation that a bounce is coming for SPX.
ReplyDeleteI'm Short UV XY at 3870
ReplyDeleteGBTC hit $12 today, support $7.50 with stronger support $5.50.
ReplyDeleteMaybe I'll short that pig if it goes higher
ReplyDeleteGBTC to drop for 2 months next.
DeleteSPX can go as high as 2,880 on this move but the rule is don't try to push it too far on the last move. 2,860 is enough. Always sacrifice a little to the market gods to appease them.
ReplyDeleteCan I say now - I told you so!!!!
ReplyDeleteI made alot shorting this I'm only off 3
Deletegot you beat, as stated here week or 2 ago, gap at 2707 needs to be filled before big move north....its begging for it..still short...
ReplyDeleteits very easy to see on daily
DOW gap being tested now.
DeleteDow gap is lower at 24674
Deletespx at 2718...
vix backwardation muting any big L vix component movess
UVXY $40 up $2 haha! That's it...
ReplyDeletePathetic!!!
lol if the market reverse and goes up uvxy will drop like a stone
Deletethere is a gap feb 11 of about 2712 and march 8th @ 2744
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Peter Ghostine
@PeterGhostine
1h
1 hour ago
More
We'll be covering all of our $SPY and $AAPL shorts this morning in the 2741-2753 area of the $ES. But we'll look to reestablish those shorts upon a rally back to the ~2,790 area. The final descent should target ~2,700.
http://www.61point8.com/Portals/0/article%20images/2019/20190531/20190531ES1.png …
2650 overshoot to heavy buy volume zone...tough to push it thru there....
ReplyDeleteVix is in backwardation....thus the issue...
ReplyDeleteLong upro 44.80
ReplyDeleteBought more puts on uvxy 40.7
ReplyDeleteI meant to say I shorted more
Deletesc where u see this drop ends on spx?
ReplyDeleteOur strong bounce is likely starting now. 2,830 SPX next week. Then 2,600.
DeleteUVXY $30 maybe even $28.
ReplyDeletethat would be awsome
Deleteim just shocked with a move up of this magnitude uvxy isnt lower
DeleteCovered uvxy short of second load that I shorted 40.7
ReplyDeleteSPX hits our 2,880 target, UVXY $28 is about right. This can take up to 2 weeks.
ReplyDeleteYou dont think we settle back before like
ReplyDelete2760 first wave 4
This bar is very positive in the model which is why we see the sharp rally. Doubt it'll settle much but it does need some consolidation 2,800 to 2,830 before it rises to 2,880.
Deletelooking for an entry to short uvxy
ReplyDeletevix up 50 cents uvxy up 15 cents
ReplyDeletehttps://imgur.com/a/ZBnFYJA
ReplyDelete