Wow, fade this opening..

You nailed it buddy.

 

Straight up and straight back down.

 

Futures just pulled in 1.50.

Fade over, this is the dip to buy.

 

We're giving this whole thing back.

 

Please see the first page of this thread and just cut me a check now.

 

1/4 position YM @57, tight 9pt hard stop... a good bounce likely, but not expecting much until late.

Osorico

EDIT: stop moved to 53. no action = not ready to pop

EDIT: stopped @53. Will look long later.

Good trading to all,
Osorico

 

new intraday highs should be here soon. buy this fade,

 

You are absolutely correct, and I do not base my trading on the VIX alone. However, when it reaches extreme conditions, it can be quite predictive. The fact that it gapped down huge and is now positive is good indication this rally has weak legs, in my opinion.

 

Could you explain a bit further on the predictive nature of the VIX at extreme conditions? What do you define as extreme? 20-day highs/lows, 10% above or below a certain MA, etc?

A strict definition of the 'extreme' condition can be quikcly tested...and I'll be glad to do so.

Regards

 

for those who missed my comment from 60 min ago.