MKT IS NOW CHANGING DIRECTION TO TRENDING. IF WE TAKE OUT TODAYS LOWS THIS SHOULD SET UP A VERY POWERFUL LEG DOWN NEXT WEEK TAKING OUT THE LOWS FROM 8/9/2011. THINGS COULD GET REAL UGLY NEXT WEEK.
interesting sentiment change. People seem to have stopped trying to pick bottoms in general now. Everyone seems to finally be in agreement that we are crashing!
Agree, however with so many anticipating a powerful move down (spx 1050) it seems that it might not happen.
Since your warning the market rallied nearly 90 points and even though it gave it back it is still higher than the 8/10 close
YOU ARE OBVIOUSLY SMOKING SOMETHING? EMINI NASDAQ 100 FUTURES CLOSE ON 8/10/2011 = 2085.25 TODAY WE CLOSED AT = 2042.50
No still long XIV.... Im not touching TVIX until it sells off and drops at least 50% from where it closed today, which would place it around $30. Its going to get there, as quick as TVIX as risen it will fall. VIX will not stay above 40 for long, yes it could still spike above 50 or 75 but it will be extremely short, I only bought 1/2 position of XIV and will by the next 1/2 if or when VIX surges above 50+ which should mark ultimate fear in the market!