8 Top, that is. See the S&P chart below (courtesy of stockcharts.com) for a nicely formed double top at 1,375ish.
The Nasdaq Composite has a similar looking double top formation on its chart. The Russell could not make it back to its early July high and is instead setting up what appears to be a bear flag. Perhaps my patience in waiting out my short $RUT / long vol trade is about to pay off?
8 Responses to “Make Mine a Double”
Bobby Boucher
Hmm…my apologies for chart not showing up in the post. It’s there when I preview the post but then disappears when I submit the post.
Bobby Boucher
Ok, finally got the chart to show up. Seems that chart inserts work only if at the top or bottom of a post.
JT
Treu
JT
More to the point – I don’t see a double top on the S&P. We just bested early July high and looks like some decent support at 1360. Maybe try posting your images again, would be good to see your angle.
FUCKGOLDMANSACKS
How’s that tvix conviction buy below 8 workin out?
FUCKGOLDMANSACKS
Your dead and now your trying to reach out from your grave. You can try to sell it.
FUCKGOLDMANSACKS
Ain’t nobody buyin it
Bobby Boucher
TVIX represents 2% of my capital at cost basis ($7.62). While the position is down 55% the hit to the portfolio is a little more than 1%. I have since switched to UVXY which is 4% of my capital at cost basis ($10.42). I will be holding both until the next big move up in volatility and will likely add more UVXY in small increments in the meantime.