You are viewing a single comment's thread from:
RE: NASDAQ forming a CUP pattern and a "W" pattern
Onthe flip side, I have yesterday's VIX low (as well as the one just before that at 9.04) showing as a long term confirmed bottom. I'm "prety sure" teh next selloff in the VIX back towards $9 is the one to buy.
There is a famous german trader who says the VIX below 10 is always a buy. I have no experience in VIX trading though. But I can't wait for the DOW to make a nosedive, according to my elliot wave knowledge it could happen next month. This could become my best trade ever if this happens ;-) I will inform here when I see the signs.
I've got quite a few trades in mind in here actually. "Looks like" I will be adding to the oil short via USO very soon but the "fact" that the dollar "likey" wil see the low set yesterday again makes me "skittish" about new USO short adds even if it is now approaching 10.10 and I "know for sure" it will see $9...at "sometime" in the future. :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=uso&x=53&y=8&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
But the MOST intrusting thing overall is the fact that oil, silver, gold, the general market, can all rally together here to hihgs that will generate a BIG drop! So I'm watching only one indicator. Sexy VIXen VIX.