I'll be looking closely at $SPY, $VIX and $SKEW to get long $SPY at the bottom once more. For now sitting in cash and with a big $TLT long position, as well as my $USDCAD short trade.
Best of luck,
Ivan Labrie.
Best of luck,
Ivan Labrie.
Trade closed manually:
Our timing signal worked, $VIX topped on the day I had estimated it would. Stocks formed a base and bottomed for now, we might retest the top of the range...nice breakout today. Our longs are paying off considerably.
Our timing signal worked, $VIX topped on the day I had estimated it would. Stocks formed a base and bottomed for now, we might retest the top of the range...nice breakout today. Our longs are paying off considerably.
Comment:
#VIX could trend lower as $SPY recovers and approaches the ATH zone again
Comment:
#VIX bottomed at my target zone...
It held the low volume support zone in the spike that happened on May 4th, now since then, it rallied more than $5 from that low, which is the point where I'm getting greedy. Looking to buy the market. Need to see selling get exhausted first, watching...
It held the low volume support zone in the spike that happened on May 4th, now since then, it rallied more than $5 from that low, which is the point where I'm getting greedy. Looking to buy the market. Need to see selling get exhausted first, watching...
Comment:
Smart money supported the market again when retesting the peak of their buying spree range. If $VIX falls to 12.9, we will have a new support zone to label on chart
I think we might even see new all time highs on this leg up here. But, I suspect afterwards we will correct down again, since the market is likely to remain sideways all year.
Comment:
Related Ideas
SPY: Weekly view
IvanLabrie
Premium
about SPY
Overall the best strategy going forward is to buy short term bottoms in $SPY, and also short rallies optionally, from a trading perspective. From a longer term perspective, each of these big drops in $SPY set up nice buy opportunities in cheap value stocks.
$VIX could be in a bigger uptrend, we will watch it closely to buy the bottom in $SPY once signaled by it and sentiment readings.