-220 to the 0 back to -100.
Today was the definition of volatility. And it wasn’t that choppy kind of volatility… it was the kind that lets you jump on and off a trend with higher rates of success.
The VIX-to-market correlation worked very well today. There was panic this morning, and when there’s panic, I usually get a good sense of the tape. I went into this tape looking for a relief rally, and I got it. Its good to be prepared and just let the trade come to you…
Did you catch those VIX revesals? I went long when the VIX reversed, plus FAS under 4 just seemed wrong. Seemed like way too much intraday panic. After I saw the VIX starting to create flags lower, I knew this time the bears were panic covering. I called green on the Dow at around -130, and we did get green… for like 10 seconds! LOL. What a stupid market. Oh well. I think today was a warning shot for the bears.
So anyway, today was yet another “rare-day-trading day”:
- VIX reversal
- BAC reversal
- FAS… we had over 30% to play with in that move!
Go Mac go!
Alohaz,
-gio-
… pictures in video are of Kauai. You know, the island that Jurassic Park was filmed on.
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hmm, place looks nice, maybe i’ll visit sometime. trade deadline came and went, apparently the clipshow were shopping b-diddy, but nobody wanted his big 6 year contract. rumor was he might have been coming back to us. phew, dodged that one.
Ha. really. why would u ever leave? rains a lot. too many chickens?
b-diddy needs to take a pay cut. Warriors need a legit center. they can’t run the playoffs without interior muscle. i like Don Nelson’s style though… who else would put in 5 guards w/ captain Jack at center!
Great Blog, I discovered U since few days but I really appreciate your view/style
NALOW:
http://www.flickr.com/photos/valeriobr/3296535777/sizes/o/
1)We are not close to “THE BOTTOM”
2)The “market of stock” look no so bad in this moment..despite the wall of fear growing around
Ciao e buon sole
PS:
I would like Your opinion on the fact that maybe we are in the wave 2 of 3 of 5 .
Gio:
The 3 charts you posted:
how is your trading monitor(s) set up?
Do you have these charts stacked one over the other?
Were these charts just for Friday’s session only?
How do you decide which chart(s) to put on your monitor(s) on any one day?
Keep up the great job.