What's your biggest position right now?

Back where it did before, 32ish.... vix pattern repeats

 

So you think the VIX is going to go up by 50% within a week or two?

 

no, i think it'll start to pivot up within 2weeks, as before it will take 4-5 weeks to get up in 30s. patterns repeat:

 

Long VIX right now seems like a knife catching exercise. Its going to back up because it went back up the last 2 times? That seems like a strategy of hope.

This market is very momentum based so it seems the best strategy is to wait for the VIX to break the downtrend and then short the market. Right now that looks like around VIX=23. Personally I believe the VIX is broken. I just use the USD as a gauge.

Why did the market come back on Friday? It should have tanked hard on the NFP report especially the 5+% rise in wages.

 

Good points, makes sense. I'll start putting on size once vix reverses and trends up for 3 days

 

Elliott Wavers got an opinion here on KC's chart?

 

It tells me a bounce is very likely...wave 4

Hence my bet buying uvxy fri

 

Aside from the charts...its a nice general setup. The Christmas psychology..warm fuzzy market bullishness..shortbus trying to time the bear bottom...knee jerk to china supposed reopening... and most importantly..the rush by the shortbus into tesla. Reality is we just begun a cold dark winter, china doesnt change anything quickly and the fed was only forced to jawbone about dovishness in the face of a brutal economic climate. Once china opens..the last thing the chinese people will buy is a tesla...but the fan boys in the USA..gotta love them..its like a brain washed cult. I always trade opposite the cults...lol

 

my money is on either spain or argentina winning the world cup.

 

You? An Elliottorarian? Naaaaah...
That's not Wave 5.3.6.141/2?
What's on the Economic Calendar this week?