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Anyone long VIX futures for that 100% gain?

Last 3 days on SPY. Like the opposite of bullish engulfing. What does this mean? edit - whoops I didn't make the lower wick quite long enough on the 3rd candle.

8/10 SPY: -$64,125 hedge: $7,070.16 Net for this trade: -$57,054.84 (unrealized) +$1,223.60 (realized) +$2,931.69 (realized) +$1,129.72 (dividend) -------------------- -$51,769.83 Pretty much exactly where we were on 8/8.

The market will definitely bounce back. I don't know if I'd be "all in" yet, however.

8/9: SPY: -$34,542 hedge: $4,618.59 Net for this trade: -$29,923.41 (unrealized) +$1,223.60 (realized) +$2,931.69 (realized) +$1,129.72 (dividend) -------------------- -$24,638.40 Drawdown from yesterday reduced by over 50%.

looks like you got it right. Well done.

Three days later and I'm drawn down around $64,000 ($51,000 after hedges). I bought more at 115 as planned and am looking to add more at 105 or 100. Haven't decided yet.

I'm down roughly $51k as of today, but I haven't closed anything out yet. I'm actually down $64K on my SPY position, but because of hedging (roughly $6k realized and $7k unrealized hedge) I'm only down a net of $51k. All detailed in my journal.

Are you all in SPY or do you have some cash left?

We already had two huge hammers in the last few days :) http://www.elitetrader.com/vb/showthread.php?s=&threadid=224679

I guess, if you take it that way. I tend to think of that saying as applying only to buying/selling (long positions), though.

Today wasn't a flash crash. No one is going to halt trading. The Chinese are not going to be the new US overlords. Just relax.

How many of you have started buying?

There are going to be some new millionaires when this little recession is over. Some of them will be the dudes who shorted this the whole way down. Some will be the dudes who had tons of OTM puts, surely with at least one "$1,500 into $1,000,000" story. Some will buy OTM calls at the...

but what is likely to happen is a little rise in price to get people exited and then it will drop.

It implies I didn't spend enough time on that chart in photoshop :(

Don't get me wrong, a rally would be awesome. I'm long 5,700 shares of SPY right now. But if it wants to go down I can buy some more. I don't care.

Still lower than the close price tho.

Let's continue this parabolic arc downward.

Cuz indicators can predict future movement :D