sp'60min
vix'60min
Summary
So much is going on, hard to keep up, not least in the precious metals.
Suffice to say...
I'm waiting for a bounce to short...and it will be a HEAVY short, with a target in the low 1500s.by the end of NEXT week.
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Some very exciting..and busy trading days ahead, where the VIX is likely to be well into the 20s, possibly even 30s if the next big wave is severe.
3.12pm..watching Santelli on clown network, talking about Gold..and the four witches for tomorrow :)
Well, I'm still seeking the 1620s... am I overly patient?
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3.25pm... new lows... with the VIX making a play for 21...incredible.
The obvious thought is, what about Friday morning? Another gap down, or stabilising, and then a 1-2 day bounce?
Considering everything, I have to still believe a significant bounce is due..but even the 1620s now look a long way up.
3.37pm.. just plain ugly out there. No buyers...and with the support floor of 1598 taken out, who wants to go long?
There simply isn't any real support now until the mid- April low area of 1550/30, but with the VIX above 20, things are more severe. low 1500s very viable.
3.41pm sp'1585....almost 70pts below the high from just a few days ago.
Been such a long time since we seen this sort of trading action.
One thing that can be taken away from today...'short the bounces', at least until the lower weekly bol...currently in the 1480s
3.50pm...no buyers...no support....a brutal day for those bull maniacs, ironically, due to the Bernanke.
VIX in the 21s...are we looking at 30s by sp'1500 ?