SPX has formed an ascending triangle. Resistance is just above. Expect the bumps to continue although the triangle is suggesting minor upside.
4 hour Chart
Next week --the prime minister of London --already stated the virus numbers will increase --but he does not want to release the information to after Christmas--NYC --10 to 15% are calling in sick--Massive overtime is being offered to any vaccinated city employee---lets see what next week brings but I control 1500 shares of Uvxy already--we had a melt up this week on very little volume---Happy Holidays ---all I am looking for is 20!
Yes for now the triangle does suggest lower volatility until closer to maturity. Then volatility will increase.
The big play I have in mind is a very specific volatility trade. I designed it for options. I'll be explaining my theory and with all the supporting charts.
1500 flights canceled over the weekend. The reason cited was flight crews becoming sick with Covid. Partly this is true. More and more people are getting sick. This is evidence Omicron is spreading
But the numbers are likely overstated because this year especially people just wanted to take Christmas off work. They called in sick.
yeah----I know---see that the fed pump is still working --a no volume --melt up---50 stocks control the market---the memes' are not moving -- airlines down--cruise ships down---all we have to do is buy calls on the SPY ---EOD----looks like Guaranteed money
Mainly it's still Delta, which is of no consequence to the market. Only Omicron as it spreads.
ReplyDeleteOne of the characteristics of the ascending triangle is that volatility diminishes as the pattern matures.
ReplyDeleteUp until the point that is...
ReplyDeleteUVXY looking more interesting, new lows for the year.
ReplyDeletesc,
ReplyDeletegoing to take a small position here --17 calls for 1/21/22
guys ---lots of turn dates next week ---uvxy is cheap!
ReplyDeleteI am personally, waiting for vix to come down a little more.
DeleteGUYS-
ReplyDeleteNext week --the prime minister of London --already stated the virus numbers will increase --but he does not want to release the information to after Christmas--NYC --10 to 15% are calling in sick--Massive overtime is being offered to any vaccinated city employee---lets see what next week brings but I control 1500 shares of Uvxy already--we had a melt up this week on very little volume---Happy Holidays ---all I am looking for is 20!
I sold all but 2 stocks today. Good luck with your uvxy, you may do quite well, nice Christmas bonus!
DeleteDunnsixter ubxy is the biggest piece of shit
DeleteMerry Christmas and Happy Holidays to all!!!
ReplyDeletePS. For early in the New Year a volatility trade has been planned. Estimated profit 6,000%.
DeleteFrom old Saint Nick! 🎅🎄
I will not hold you to those 6,000 % profits, but I will hold you to 3,000 % profits. LOL
DeleteThanks for all your insights SC.
🎅🎅SC, Merry Christmas and Happy volatile New Years🍾🍾
DeleteMerry Christmas SC, thank you for sharing your great calls.
DeleteI hope 2022 is a great year for you!
Merry Christmas all. Thanks for the 60 bagger gift in advance SC.
DeleteMerry Christmas 🎅 🎄 to all
ReplyDeleteSc, can you give a uvxy buy and sell price target? Is that the 6000 percent play?
ReplyDeleteUVXY could see a little pop soon but expect we will see $10 or under soon. $7 or $8 is possible. It's early.
DeleteI do plan UVXY trade but the big play is a very specific play on volatility. I'll explain
DeleteSc,
ReplyDeleteI’m confused...I thought the spx ascending triangle meant low volatility?
Or is this 6000% volatility in a specific sector?
Yes for now the triangle does suggest lower volatility until closer to maturity. Then volatility will increase.
DeleteThe big play I have in mind is a very specific volatility trade. I designed it for options. I'll be explaining my theory and with all the supporting charts.
Thanks! 6000% can change a life!!!!
DeleteEasy to plan. The challenge is always in the execution. Let's see if we can catch it.
Deletelou,
ReplyDeleteyou miss me---Merry Christmas
1500 flights canceled over the weekend. The reason cited was flight crews becoming sick with Covid. Partly this is true. More and more people are getting sick. This is evidence Omicron is spreading
ReplyDeleteBut the numbers are likely overstated because this year especially people just wanted to take Christmas off work. They called in sick.
Sc,
ReplyDeleteI sold all the Uvxy--because ---you say 8 to 10 bucks--
I will need another good trade --
hey tommy those options are 10.40 from 2 lol
DeleteThis move up reminds me off october 13th to november 5th
ReplyDeletelou,
ReplyDeleteyeah----I know---see that the fed pump is still working --a no volume --melt up---50 stocks control the market---the memes' are not moving -- airlines down--cruise ships down---all we have to do is buy calls on the SPY ---EOD----looks like Guaranteed money
sc,
ReplyDeleteany thing cheap ---spy is running?
GUSH is good to $115 but I don't expect it to do much for the next week or so then spike.
DeleteMaybe play some calls on this next week.
Deletesc,
ReplyDeletethe calls that I play on Gush were 1.40 this morning---now 2.20--I am not chasing--110 call exp 1/21/22---does not make sense to buy them here!
Yes wait for them to settle down.
DeleteBought OCGN $5.12.
ReplyDeletesc,
ReplyDeleteI dont like where the SPX is ----reminds me of a blow off top--I will wait for tomorrow---
New chart posted!
ReplyDelete