Thursday, 24 September 2015

10am update - opening weakness

US equities open weak.. and continue to unravel. There is some soft support in the 1915/10 zone. There is threat of minor bounce into the afternoon (as usual)... with the Yellen appearing... offering a brief opening Friday gain... regardless.. broader trend is clear.




*bear with me.. I am adjusting trading stops!

EXITED INTC-short, SPY-short. from sp'1915.

So.. opening weakness... nothing too exciting... but it continues the broader trend.

*I am holding AAPL-short... VIX-long... both are still a touch underwater (my entrys were not so great).. but I can stomach holding them across any intraday bounce.

If I can drop AAPL by 11am for a minor gain... I shall.

stay tuned.

10.07am... HUGE TV event of course.. as the Pope addresses US congress .. at the rather bizarrely early time of 10am.

Equities remain in melt down mode.. sp -20pts @ 1918....  a floor around 11am does look probable.

10.11am.. a Solid opening candle for the VIX.


By the close.. we could just about see VIX 27s.... but that would equate to sp' <1900

10.25am.. So.. I've eyes on the VIX, hourly charts offer 27s today... with 28/30 by the Friday close.

I remain LONG-VIX.. and SHORT-AAPL.

*I will consider a SPY re-short.. on any 'nonsense' bounce. whether this afternoon.. or early tomorrow.

10.34am.. a little chop... market trying to hold soft support around 1915... but really... another wave lower to 1905/00 looks probable today.

notable weakness:  INTC -2.8%...      but I dropped that one earlier.