This morning I hit the crossroads on my VXX position, down 10%. One of my rules when evaluating positions is to determine at -10% if the stock is worth doubling down on or cutting the loss. At this level, the loss is still small. If I double down and it reverses higher, I’ll be driving up winship lane in no time at all.
To help me make this decision, I fell back on a little “t and a” to assist me with my “dilemma.”
As you can clearly see, that automobile is looking like an alligator and it’s emitting black smoke from its tailpipe, always an ominous sign. At sub 20 on the VIX, typically, it’s a good idea to build a position and just wait for the shit to hit the fan. Don’t worry about the rest, for the fan will spread the shit without pause. Finally, please take note of the “cock and balls” pattern forming. This is HIGH PROBABILITY occurrence and should be respected by market participants.
Needless to say, I doubled down on my VXX tits this morning.
Aside from that, I’m still eyeballing a few oil stocks for purchase. And, DECK is shitting the shower, as predicted by a certain SAM POSER. Well done, Sir. If I cared enough, I’d offer you a sincere apology for my critique.
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Is there an indication of the ominous “Cock and Balls” Formation there?
Fly always draws the best charts.
is that Beelzebub’s pitchfork on which you are riding you VXX position?
still looking for the run of the mill 5-6% pull back?
Great work Dr. Fly.
This chart is the equivalent of your Doctoral Thesis/PHD. You have been bestowed the title of “Doctor of Technical Analysis” by the MTA (Market Technicians Association)
Why thank you.
If you drew a hat flying off that car it would look like the family de Fly on the Jurassic Park ride.
Oh, and BTW: Looks like a double bottom…
Again, for those that don’t know:
The VXX does not track the VIX. It looks at short term VX futures, and has issues with the contango currently existing in the market.
See chart art for explanation:
http://i.imgur.com/x7USl.png
SHUT UP AT ONCE.
Don’t make me hop on a ladder and chop your head off.
it just sucks that there’s not enough liquidity in VXZ, mid-term vx not retesting feb levels
Why is he always running?
Is Steven as big as the Swan Bros?
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much more useful than most of the technical analysis out there
lolol.
Bearish engulfing cock and balls.
I think I see a Goat Entrail morning star as well.
Is this the kind of TA that got you into VXX in the first place?
NOTE: The “bump” near Jan 11 was due to me burping. It doesn’t actually mean anything.
Oh, and here and I thought it was a chapeau.
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Looks to me like Fly drew that up while riding the Men In Black ride at Universal.
Fly is the only Chartest that is truly forward thinking. All others are just blowing smoke up your ass with views of the past.
You are appropriately monikered, siiiiiiirrrrah!
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Dr. Fly, I don’t know what to say but to apologize for also holding VXX. http://goo.gl/0dhLj
RIG
(RIG is GOD)
VXX is in a downtrend because market volatility is low. And volatility is low because we are in a slow steady uptrend.
Even if that switches to a steady downtrend (which it WON’T) the VXX will stay low.
If you want to trade the market use options. They are CHEAP and will stay cheap.
why would you want to buy something cheap if you can’t sell it for less than cheap?
*more than cheap
This is definitely a good spot to double down, since we are about to start a second wave up, from a third wave down, and a 48.456% retracement from the top of that cock and balls tripple top… well done.
If you have 100k, file for 2 LLCs.
In one sell 50k worth of ATM weekly call options, in the other buy 50k worth of weekly ATM call options…
At the end of the week, ONE of your businesses survives.
Since by selling call options you have “unlimited loss” but your business has a limited amount of capital you either gain 100% on your covered calls, or lose 100%.
Since by buying calls your loss is limited to 100% as well, but your upside is much more than 100% you are set.
Either your sold call options win and you double your 50k to 100k and lose the other 50k and you just pay yourself a 50k bonus, add it to your other business and repeat.
If instead your bought call options win, you probably win more than 50k in the one account while losing more than 50k in the other, butsince you are limited to 50k loss you only lose 50k while gaining significantly more. Then you cash out of that business and create 2 more and repeat.
Effectively a risk free trade with tons of upside.
Today’s picture not a gator, it is a honey badger going after =^..^=
There are few things better than the hand-drawn chart analysis by The Fly.
LMAO! This is first “T&A” chart I’ve ever seen you post. Fucking hilarious – cock and balls formation. WT3F – that’s beautiful.
Thanks for the edutainment!
Thank you. I’ve been waiting for the next Soothesby-worthy painting to feast my eyes on. I could only hope to bid at lower levels. I was considering going in for a little VXX around $24, but lost my nerve after losing a good chunk of it a couple years ago when it nose-dived to $12 before reverse splitting.
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What’s been done in the name of Jesus ?
What’s been done in the name of Buddha ?
What’s been done in the name of Islam ?
What’s been done in the name of MAN ?
What’s been done in the name of liberation ?
And in the name of civilization ?
And in the name of race ?
And in the name of peace ?
Everybody …
Loves to see … justice done …
ON SOMEBODY ELSE !!!
~ Bruce Cockburn ~
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