Both markets holding right at the primary pre-crash support. Seems it's getting harder and harder for people to short below this level.
Even TVIX dropped to $108 and popped right back up to $120 no problem. Very sticky support.
Still waiting for the pop.
Every day further we get past the down-channel, without falling back below means the odds of a market crash are increasing. If it falls back below, then we must be patient.
Lookout for an uptrend heading back to $150. Maybe have some downside ahead still but very unlikely it'll go lower than $90 before the next crash.
My stop loss is -50% on this trade and I don't anticipate that getting triggered especially with a promising breakout already.
@joesdbcn, Haha once you collect enough data to be reasonably certain of the eventual market direction, the stress kinda melts away.
mak337
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I get so spooked holding TVIX overnight. Lord give me strength.
ProfitHarvest
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@mak337, I've been holding TVIX for two weeks at $150, it's not as scary as it seems ;).
This pressure has been building for awhile and this is just the start, TVIX won't be back below $150 for many months now.
Even is market goes up again, it just adds further volatility now which still keep TVIX and VIX pumped up or at least holding steady.
mak337
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@ProfitHarvest, hope you're right! If I can't trust a stranger on the internet . . . J/k. I agree, but watching the violent price swings in the aftermarket can make a person nauseous. I'm holding on tight.
ProfitHarvest
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@mak337, Just keep digging into the data, once you accumulate enough, trading is pretty stress free. Odds become further in your favor.
dustinmerryman
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Nailed it! TY!
JacquelineViola
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Your task help me much
lockonstratos
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^_^
escowat
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@ProfitHarvest you are my HERO. Balls of steels, gave us strength in TVIX!!!!!!! Did you add more positions under $150 this week? Another gap up day tomorrow?!