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Thursday, February 11, 2021

DRIP - Oil Sector Pullback Due

The Energy sector is likely to see a pullback shortly. Oil has overheated, with up 8 days consecutively. DRIP entry soon for short term. Expect chop. 60min

36 comments:

  1. DRIP may slide down the pink line a little to give a nice entry.

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  2. Also watch RIG. RIG failed with lower high from January. Warning sign.

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  3. Replies
    1. Let's watch here. Still may be early. Just starting to look shaky.

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  4. sc,

    are you looking for a yearly cup --higher!

    or sell off!

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  5. I'm expecting energy stocks to pullback next.

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    Replies
    1. After pullback, later energy short squeeze.

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  6. So market will pull back and higher

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  7. Sc u still not buying uvxy or vxx

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  8. SPX still moving higher according to the model.

    Reason is Oil at $60 puts pressure on SPX. Pullback in Oil actually relieves pressure on SPX.

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  9. that sure looks like a capitulation type of volume for uvxy...

    Wow...
    Someone dropped massive amounts of uvxy in the last few mins...

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  10. Sc vix cont. Feb - March 17 per, march-april 7 per, after that 1 per

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    Replies
    1. Are you talking about contango here? Thank you!

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  11. Since I don't have the luxury to trade UVXY (forbidden in my country), I would be pleased to hear from you about the range you expect VIX to bottom. Because the VIX, that one I can trade

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    Replies
    1. VXX is another one. It's an etf as opposed to VIX itself which is a futures contract.

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    2. 18 VIX is the number to watch. There's a gap from February 2020 at that level and the VIX weekly 200 also 18.42.

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  12. Thanks SC, and Louis, it is the Netherlands

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  13. Contango is quite steep in February for VIX futures. March there is some contango but it levels off. Then flat

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  14. Good. DRIP has settled down. Let's see if it can get oversold

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  15. jesus christ.. uvxy is getting decimated...

    yikes...
    looks like im bag holding for a while from 11

    ugh

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    Replies
    1. Probably not as bad as it looks Sami. Long weekend. UVXY does this on long weekends.

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    2. The mysterious VIX drop yesterday. SPX recovers overnight. Miraculous lol

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  16. "Hedge funds short energy more than anything else in their portfolio"

    https://youtu.be/ZJE8qeH_gRU

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  17. Replies
    1. SC, everyone expects that vix fill the gap at 18, maybe it is the surprise and it does not fill it and it goes up to 50 or more

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    2. Special Update coming Charles!

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    3. The moment is coming Charles soon! Standby.

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  18. sc,

    I am hoping we get the update before Tuesday morning trading

    or do we have more time?

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