First path shows market new highs in VIX low 23, perhaps 22.50 – 23. Today’s intraday move on the VIX showed traders selling right at VIX 23 after a 5-day quiet rally. We could look at this as a little shake out of weak longs before the weekend. Remember, this market is heavily influenced by short term traders (much different scene than summer 2008). We have now entered into the territory where we can look for consecutive VIX-spikes DOWN to signal a longer term market reversal. Let’s see if we can time it together with The PPT‘s overall market hybrid score (recall that hybrid = 3 presents interesting effects on market).
Second path shows VIX continues its bounce off 23 to 25, then 26 area showing a healthy and slow 13% move up in investor sentimen/fear. Bulls want that.
Overall, market has been choppy on a weekly basis.
– Fuqi International, Inc. [[FUQI]] broke 31 again for the bulls
– CNinsure Inc. [[CISG]] also broke 20.
FUQI looks good for a daytrade long end of day. maybe 50 cents? 30.40 – 30.90 is playing field.
I’m stupid, i forgot to post chart.
done.
I must thank you for that other post on FUQI you threw up a few days back. After banking 68% on 2 call options in 2 days i reentered FUQI in the low 29’s, where you recomended, and enjoyed the shoot up today. For the life of me i cannot explain why i did not place a trailing stop or a good stop loss to lock in my 50+% profit instead of being forced to take my 20%. Oh well, i made money and learned something. I’m re-long the stock again. Thanks Gio.
congratz my man. we likes to party here.
Gio, would you still short gmcr here? Looks like it broke through 50 dma?
it’s worth a try. nice conservative setup. good chance for big return on smaller risk for short side (hard to find these). I like shorting the like, ie, PEET or CBOU if u can.
Thanks!