"We do know one thing though. On average, TVIX will continue to decline."
raybans2-this sentence contradicts everything you say. yes the market has rallied two days in a row. But did you notice today? S&P rallying hard yet TVIX down only from $11.94 to $11.39. Means volatility level remains high. Actually I wouldn't short this because this market could easily do what it did Tuesday and sell off again. But if TVIX goes below $10, I'd start buying long positions.
After the last 45 minutes and a 600 point swing you feel comfortable holding? U could have covered at $11.92 this morning.
What will you post if the market tanks again at the end of the trading day? So sure of yourself. People who are so sure of themselves many times end up eating crow. Will that be you at 4 p.m.?
Sadly I think you're right. If the correction is extreme -- and after today's last hour and yesterday's 1000 point drop -- there is a very good chance we will see $72 again and then (like the Street article yesterday) possibly $64 and in the most extreme case $52. Those two price points are arrived by the $70 rally from $30 to $99.24. In corrections, sometimes 1/3 of that $70 is given back ($23) in a 10-15% correction but when the correction is quite severe you could see 1/2 given back ($35) or in the most extreme 2/3s ($47) given back. I would have never thought this was possible until yesterday. Sold all my position and put it in the TVIX and am cleaning up. Any losses I incurred from selling FB were made back yesterday and today. I told you about TVIX. It could reach it's old high of $61 by Oct when I predict we could see the Dow lose a1000-5000 points in one day. Sounds crazy but with all these HFTs it could happen. If china has a hard landing and implodes it will infect the whole world. Be careful people.
At $85.83 support it would be a $13.8% drop. And over a 10% drop in two days (from $96.10 high on Wed). This is thievery.
dolf... look i want FB to go up but your price targets of $150 and $225 by the end of the year are ridiculous. What's the point of posting if you're going to come off like someone who hasn't a clue? If we reach $115-$120 by January, be happy. Right now we will probably see $85-$86 before any resumption of the uptrend and markets stabilize.
Funny right after I posted this it dropped to $91.20. Looking to buy a little at end of the day. Think we see a selloff and maybe even more of a drop tomorrow.
Crazy market Mr in _ out. I think we see upper $91 range today. MAYBE $89.76 Friday if the market continues to capitulate. But there are a lot of calls being bought at $94 and $95 for August 84,000 contracts Calls vs 37,000 contracts Puts. And $110 Nov calls. There's huge buying going on. Overall, I get the feeling many traders feel there is huge upside coming, with majority saying $115-$122 by end of the year. Thoughts?
oh gee it was beat at the last second by a penny. GO AWAY!