12pm update - underlying weakness

US equities have rolled lower, and even the VIX is starting to climb. Yet, there is some QE money sloshing around out there today (and tomorrow), and there remains the usual threat of an intraday bounce. A red daily close does seem very likely though.


sp'15min

Summary

*I EXITED a spy PUT block @ 1857, will look to pick up again..around 2-3pm. Am holding VIX-long..regardless.
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So..we've rolled over, and the move to the 1855s was an interesting start.

All those touting 'gap higher' are probably on radio-silent after this mornings decline..and they should be damn worried now.

ANY break <1837..will open up a fast move to 1810 (min)..if not the 1780/60 zone..along with VIX in the 20s.
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VIX update from Mr T.



Ohh lordie..another new VIX derivative.
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time for tea :)
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12.07pm.. R2K getting the smack down.. -2.4%, and its only lunch time!

VIX making a break for the 15s.


12.09pm.. starting to look pretty decisive now, isn't it?

yours...VIX-long....will pick up an index short on ANY 2-3 hr bounce.


12.33pm.. sp'1847 looks to be a short term floor...and the 1865/70 zone is looking a fair way up.

Lets see what the bull maniacs can manage into the typical turn time of 2.30pm.