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





7 comments:

  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

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  2. hello !

    pls can u give me 2 line comment of gld

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  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

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  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.

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    Replies
    1. 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

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

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