Was June the top? Everyone has been waiting for the bounce, but the VIX was just too low. Why would you NOT start taking profits when the VIX was <28? When it hit 25?
The more and more sell-offs we get, the better the volume on the sell side. It’s nice to see the VIX in the 30s, but what makes it better for the bears is
1) trending up intraday VIX (not a spike)
2) the accelerating sell-off into the close on all major indexes.
Shorting now would probably be a little too late. I would, like the bulls, wait for a bounce. Or you can be like me, and just short anything that breaks down.
YGE -10%, PCX -5%, TRLG -3%, CSIQ -5%, BWLD -2%, BBY -2%
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Someone asked me about GMCR…
– Coffee stocks have not yet broken down, which is a good sign for bulls. I’m still long GMCR since months ago, but have a exit strategy. In other words, I’m not looking to add here. I have a option play on this in the making but am waiting for the prices to go down a little.
– If you’re still long the coffee king (GMCR), then I would start shorting something like PEET or CBOU. The Caribou got killed today, so too late.
Gio
What yout take on the faz split I hold 550 shares @ 6.75
does it realy matter ?
or do the shorts come in.
take my lost at whatever cost ?
thanks
As with most leveraged ETFs, the price erodes significantly over time. Remember to treat these ETFs as hybrid stocks… they have characteristics of stocks and options. It’s weird, but we figured that out months ago. The reverse split will accomplish nothing. It’s just a trick. FAZ true value lies in market volatility, so until you start seeing the VIX spike way up there, then get aggressive with FAZ. Until then, it’s a crowded play so take profits when you can.
FAS is down more than 67% year-to-date while its bearish peer FAZ is down nearly 86%. … doesn’t that sound like an expiring option? If time is not on your side, stay away or exit these trades.
Good work Gio, your shorts have been on fire!
Nicely played Gio .
Gio has got my back!! I put up a PG post with a call of $SPX 777 Jun 17th which is approximateliy 7777 on the dow.
http://www.ibankcoin.com/peanut_gallery/index.php/2009/06/17/top-callin-no-ballin/
Great post goldie. looking forward to your short setups.
Something tells me you don’t need my setups to make money 😉 I hate to keep spamming my PG shit, but I put up a bunch of oil shorts a right before they all topped out… Right now I am just sticking with shorting the $SPX and oil via SDS and DUG. Hopefully I will get time this weekend to throw up something in the PG.
http://www.ibankcoin.com/peanut_gallery/index.php/2009/06/07/long-term-oil-charts/
Don’t worry, we Hawaii people love spam.
http://home.comcast.net/~derrickb1/mcdmenu.JPG
Test test.
VIX chart–just in time too! looks like you’re about to go all short sell, when you should be going side-ways, this week.
http://retracementlevels.zstock7.com/
Where’s my gravatar–I did all the steps?
You da man, shorting solar for the most part again and banking chang off of it.
Checked the YGE chart on Saturday I believe when I was rummaging through my screens in order to find good picks for this week. Hated YGE. Great short!
I’ve been roughed up a little on YGE, because I didn’t want to cover. It’s hard to find shares to short in solars, so I go and do other stuff like get long JASO for a hedge. ouch.