Friday, February 17, 2012

Sold TVIX @ $17.50 pre-market


With the stock market breaking out unexpectedly to new highs yesterday I have become wary of what will come next. I sold my position in VelocityShares 2X VIX ETN (TVIX) in the pre-market this morning for $17.50. At this point I plan to just sit back and watch the incredible show until I can find an edge to re-enter TVIX again.


My TSI Trading record has been updated.


Click on the chart to ENLARGE





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7 comments:

  1. danieleFebruary 17, 2012 at 7:39 AM

    Hi john.Well done!.Could you post when you're going to reenter on TVIX trade again?I'd like to follow your path from the beginning.
    Thanks you so much indeed!!!
    I exited yesterday at 18,25 from TVIX

    ReplyDelete
  2. John TownsendFebruary 17, 2012 at 8:42 AM

    Hi Daniele - Congrats to you!!

    ReplyDelete
  3. AnonymousFebruary 17, 2012 at 9:29 AM

    hello !

    pls can u give me 2 line comment of gld

    ReplyDelete
  4. AnonymousFebruary 17, 2012 at 9:53 AM

    John - I'm wondering why the 30min chart? I have in my head a remark you may or may not have made about the 30 & 15 min charts as not favored by you. I could be wrong. I do sometimes get seemingly contradictory readings from the 30 min, 2hr vrs 4hr, daily, as in this case with Tvix.

    Also, I totally appreciate being wary b/c of new SP highs, but your wed. post & chart was very compelling... and this chart less so. I end up with an internal battle.

    Regardless, your blog rocks!
    - Jimmy

    ReplyDelete
  5. John TownsendFebruary 17, 2012 at 10:54 AM

    GLD has made a bullish flag on the rally out of the December low and if this pattern follows through project gold futures to around $1925.

    Jimmy - the ideal time frame to use should match the time frame you intend to hold the trade. If you are trying to do a day trade, a good signal off the 60 minute or less works well. If a swing trade of a week or longer the daily and 4 hour work well.

    My intention for my large TVIX purchase was a swing trade - holding a healthy measure of time. Indeed, I think I held this position 9 days. But once I thought it better to take my profit I shortened the time frame to make a decision and get to the rest of my day (go to work).

    Hope this helps.

    ReplyDelete
    Replies
    1. sgsullivanFebruary 19, 2012 at 5:23 PM

      John, do you think this is true? http://hat4uk.wordpress.com/2012/02/16/greek-default-exclusive-senior-us-bankers-given-explicit-timetable-for-athens-default/

      Apparently March 23rd after close of business would be the date Greece is declared in default...

      I wonder if the market already has that priced in?
      -Steve

      Delete
    2. AnonymousFebruary 19, 2012 at 9:21 PM

      This could be a trigger for massive gold rally...?

      Delete

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