Wow, fade this opening..

[osorico]

Quote from MiniDowTrader:

Options expiration...I'm expecting a narrow, mind-numbing range after this first hour.

MDT

You nailed it buddy.

 

[DeepFried]

Straight up and straight back down.

 

[Restricted]

Futures just pulled in 1.50.

Fade over, this is the dip to buy.

 

[DeepFried]

We're giving this whole thing back.

 

[krazykarl]

Quote from DeepFried:

We're giving this whole thing back.

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

 

[osorico]

Quote from Restricted:

Futures just pulled in 1.50.

Fade over, this is the dip to buy.

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

 

[S2007S]

Quote from Restricted:

Futures just pulled in 1.50.

Fade over, this is the dip to buy.

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

 

[Div_Arb]

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.

Quote from stock_trad3r:

I'm sorry to say but the vix doesn't have any predictive properties. It is just a statistic .

 

[Corelio]

Quote from Div_Arb:

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

 

[krazykarl]

Quote from krazykarl:

we are going to break lower around 11am est and rest over the 2 hours of lunchtime.


look for another push upwards early afternoon.

for those who missed my comment from 60 min ago.