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Tuesday, June 23, 2020

UVXY - Mean Reversion

UVXY is approaching support soon. 

This is a good example of mean reversion and UVXY is likely to revert to the mean once again.

60min Chart


46 comments:

  1. Chart starts to look like an Electrocardiogram EKG.

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  2. Do you see anything interesting with btc? A lot of alt coins started giving nice 300% gains since two months ago but got quieter this and last week.

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    Replies
    1. Bitcoin has been quiet but yes I'll take a look.

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  3. Sc 24th was turn date ? We are coming down

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  4. shorted uvxy just for a trade
    36.30

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  5. Sc what your thoughts on today

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  6. SC, I was ready to short before the close yesterday when you commented that, since the turn dates were so close together (7/24&7/26) that there would probably be chop. Until then I had not thought of that; unfortunately I agreed and sat on my hands. Tough to pull defeat from the jaws of victory.

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    1. Yes, we did see some action on the turn date. Let's see though.

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  7. Replies
    1. I'm thinking 3180 then 2900 next week

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    2. Getting close to the 4th, would be unusual to be down next week.

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    3. I know but we have seen alot of unusual things lets see if 3056
      Holds

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  8. I dont want to buy. When I posted it was 30.16. Sc still looking 32.79

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  9. Good day! SC, 26th looks to be important cluster (CIT) as well. Do you have this date in your work? Is it likely a high? Thank you.

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    Replies
    1. Yes, next turn date is tomorrow the 26th.

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  10. Bought stake in Carnival cruiseships CCL at $15.80.

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    1. Reasoning for the trade is simple. Just about everything has reopened except cruise ships. Not that I am a fan of this industry at all. They say cruises opening in September. CCL trading at 50dma currently. It looks to be forming a low now or soon and expect the recent high of $25 to be retested.

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  11. Replies
    1. Short term only. Look to exit in July. Robinhood may float this boat.

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    2. I see what you did there

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  12. Sc what it means. Expecting high tomorrow

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  13. Sc today is turn date. We are down into it. What next turn date. Is it next week

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    Replies
    1. July 6th. There's 5 turn dates in July.

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  14. In general expect rising market into July. In July we will be ready for larger selloff into August/September.

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  15. Ok thanks. So the top can be after July 6th. Just want to be clear. There were lot of black pool buys in puts july 13. Spy. And july 21 vix calls. Don't know what it means

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  16. Looks like turn dates were lows?
    We might see 3008 then 3200

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  17. If 5 turn dates in July that will be treacherous

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  18. I say buy the dip bought some spxl
    And upro

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    Replies
    1. Yes, it might be choppy SPX for a week but 3 or 4 weeks from now expect we can be higher as shown on the SPX chart. Blue resistance is at 3,350.

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  19. Sc u don't think 300 will be broken.

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    Replies
    1. This selling looks shallow. Weaker later in the summer and Fall.

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  20. ER's start the 13th.....be prepared......

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