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Thursday, May 13, 2021

UVXY - Volatile Phase

Next week will be important to see if there is follow through on the volatility this week. There hasn't been much volatility since the November election. Although not likely the start of a major move, we may be entering a more volatile phase in markets. Weekly

57 comments:

  1. Happy times ahead! Thanks, SC. I see current bounce as short term in US indexes, next SPX downside target to be reached in May is 3969 or lower.

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    1. Thanks Alex! It is getting more interesting!!

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  2. SC are you in rig or waiting to buy?

    Thanks

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    1. Long RIG. Colonial sorted out their pipeline issues but that won't stop gas prices from rising. RIG consolidating, but yes it is getting ready to run. The 50 dma is at $3.62.

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    1. It still looks too early to hold OCGN as we wait for the next run. Biotech sector is out of favor at the moment. XBI still looking bearish. Daily chart XBI about to make death cross.

      Vaccine stocks down again today MRNA, NVAX. OCGN is of course the most junior so it gets hit hardest. But when it goes up, it runs hottest.

      So I think we have to wait patiently for the sector to turn around. OCGN is preparing their FDA filing for approval. OCGN is going to be great once we have a low in place.

      Charts estimate 3 weeks for OCGN to bottom.

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    2. Notice that OCGN found resistance at $10. $10 was the recent offering price for $100 Million subscribed by healthcare institutions.

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    3. Thank you, SC. May time together with correction in the indexes. Definitely on the watchlist for buys.

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  4. The news is finally out UVXY will reverse split 1 for 10 May 26th

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  5. Guys,

    They hacked the Pipeline---but they did-not hack the election--think about it!

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    1. True its all a scam next they will hack our food supply

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  6. Sc,

    When are you looking to take a position--before or after the split---on a double bottom scenario---the Vix can go to Thirty?

    Dennis Gartman is looking for DJI---down 7000 points--this summer (the next pull back)

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    1. Volatility dissipated. Probably waiting until after the split but we'll see

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  7. Dennis Gartman is wrong 80% of the time.

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  8. Followed him.Did the opposite of what he said.Made good money

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  9. Energy is the top-performing S&P 500 sector for 2021

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  10. tsla----looks like 450 to 500 for a bottom?

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  11. Sc any charts on bitcoin ?

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    1. Bitcoin etf considered in June by SEC

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  12. SC, do you think vix start the movement to 80 or more?

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  13. sc,
    we need gap fill at SPX 4200 area?

    That should take the VIX down to 18--the fed was told not to let this down --the fed pump should kick in today or tomorrow.

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    1. That's what I am thinking generally too. 4,160 then may come again

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  14. Bought PG again. Loaded up on WFC,thank you Warren B๐Ÿ‘๐Ÿ‘

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  15. SC, so you think the vix go doun again?

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    1. Yes VIX settle down, but I will be planning volatility trades June through September. It's going to be a rocky market.

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    1. Good trades Louis. Likely to go down again for triple bottom.

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    2. I am waiting for big drop i believe a good target for upside would be 4188 gap fill we should fill april gap and upper gap we will see what come first

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  17. UVXY filled gap but will wait until after split. I see setup for a larger UVXY trade

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  18. Investview.com listen to this video this company a little powerhouse

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  19. SC, don't you think we are going to the top? Or more?

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  20. Pinned at 4,160. It's pretty quiet

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  21. Weekly Bollinger bands on indexes are not coiled enough yet for the pronounced intermediate correction move, making me think we have this choppy grind/zig-zag sideways-lower still for few weeks.
    $UTIL is one of the leading indexes and having a look at it's recent price action, think we can overlay it to depict possible DOW's action in the near term. https://stockcharts.com/c-sc/sc?s=%24UTIL&p=D&b=5&g=0&i=t5505091531c&r=1621694645685

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  22. @sentimentrader · May 21

    "Somebody's feeling frisky.
    Small speculators piled in this week and moved to a record net long of $34 billion. That exceeds the prior record of $31 billion from March 2001."
    Sqroot NOTE: They were early in 2001, the low came in April.

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    1. It is interesting thank you. Retail traders getting in there bigger this time...

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  23. Is there anyone watching BOIL (Nat Gas)? It usually starts go up during summer time and Oil went up huge recently. Any ideas?

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