I took down the final piece of my UVXY long win inside 12631 just now. These volatility instruments have been the grim reaper to many in recent years. But we slayed the dragon today.
Here was my note to members:
Sold final piece of $UVXY long @ $63.07 from $57.78 entry to lock in the rest of the win today. Will see to re-buy a long volatility position soon but not going to get complacent with gains in fast moving market.
Elsewhere, I expect all of your favorite hideouts to get hit now, including Big Blue, utes, trannies, staples, etc..
Stick around for my video market recap after the bell.
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Well done. You are playing this market like a true boss.
Thank you, partner.
Chance has certainly favored the prepared mind of the mighty chessNwine.
Chess- you da man. Respect!
congrats , mister . this was not easy .
Have to admit and give credit where it is due, I posted in a thread yesterday that the ‘short to medium term bear thesis looked pretty done’, but was apparently very wrong! (fortunately though I sat on the sidelines instead of going long yesterday)
Adding to my thoughts above, a very distinguishable descending broadening wedge has captured my attention on the QQQ. There is obviously a lot of damage done here to various charts across the market, but I think as far as the QQQ’s go I’m leaning long for the next week or so.
And the she looked a me as the multicolored Farris wheel seemed to roll into the setting sun ( I think I’m off now) and said.
“Charlie Parker is dope”, and perhaps that was the first time those words were ever spoken in a sentence together.