I gotta run right now, so I’ll explain later. But if you can figure out why today was a “rare day trading day”, then at least I accomplished something.
Here’s some hints:
1) VIX
2) BAC
3) FAS
4) Relief point
… remember the checklist?
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FAStstic!
VIX peak in early AM correlating with BAC bottom, triggered a FAS buy, which then moved 14% in less than 4 hours.
This all makes today a rare day trading day because of its predictability?
Spot on Anthony. Vix reversal –> followed by BAC reversal to upside —> followed by Dow breaking relief point = 7931 = yesterday’s low –> … long FAS for 10%
… compare today’s action with the past 3, and you’ll see why today was a far better day to trade.
Range is widening, don’t know which way it will break.
@StockRake … gotcha. today’s close had hesitation all over it. Tomorrow we get job #s, so thats been capping the market. I’ll admit, don’t know where we break either. leaning bullish.
A rare day indeed… The U.R. will be oober important in tomorrow’s trading, especially since the $SPX has the potential to drop really low. I like the iETFs here, but I need some conviction on market direction with confirmation on that RSI/%K system I have going before trading them… FAZ @ $48 would be ideal!
ZM