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glad i didn't buy UVXY. Just TZA, the lesser of two evils.
So true, these last couple months have been rough on VIX trades... so I am just in TZA...
While the VIX is in contango, UVXY and VXX are very difficult instruments to trade.
Futures up a 1% today, so it looks bleak for Monday...
The Summers of our (dis)content.
Yes, I have officially lost more this year than last... and last year I tried real hard to lose money, this year I tried not too... I can't seem to win in this extraordinarily strong bull($h!t) market...I sure hope this is a BUBBLE and it pops REAL SOON !!!
RMI, with all due respect to J and others on this board, I don't think that it's easy to make money going against the market trend. I've suggested this in the past, but I suspect that not taking short signals when they go against the general market trend is a very good idea.
Al, I would agree, nor what I disparaging J and others here... I was just stating a fact, sorry if you took it wrong...I guess I assume wrongly that those that read here or post here are actually following these signals... my bad
In no way did I take your comments to imply any disparagement of anyone. You've always been a fair and generous poster.All that I meant is that I fear that when the market trend is up going short is, in the long term, probably not a very good strategy. And, as I've said here a while ago, I've taken a hiatus from following J's signals. I've seen too many systems implode to not have some I hope healthy skepticism about all of them. I want to see how J's system handles various market regimes before I consider devoting money to it again. Having said that, I enjoy J's comments, watching his systems playing out, and the commetnts of posters such as you, RMI.
I agree again, and I will be using the trend (based on a weekly trendline on the SPX) in the future.I still believe we are in a topping pattern, as I am apparently a PermaBear... but if we get above 1704.95 then I am wrong yet again (didn't think we would get above the high in 2007)...Tired of hearing the PermaBulls crowing too :-(
How did you come up with 1704.95 number, that's the top for the day so far; but only 2 hours after your post????
Well, I misspoke to some extent... the ES futures high is 1704.95 from 8/1 and 8/4/13The SPX high is 1709.67 from 8/1/13...High today on my chart (investing.com) is 1707.10 so it is probably just a difference in what platform you use... stockcharts.com is showing the 1704.95 as the high today.Interesting...