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


  1. 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

  2. hello !

    pls can u give me 2 line comment of gld

  3. 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

  4. 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.

    1. John, do you think this is true?

      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?

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