Monday could see early follow through but then there's the rest of the week. Nothing going to prop this market up at these prices. JMO
UVXY + 6 %. Something wrong here. Save your confirms. Sleaze ball lawyers will get a class action going eventually against the perpetrators that run this POS.
I continued to scale in pre-mkt this morning and am long 2700 UVXY. This market is ready to fall. Big time perhaps.
I was thinking a ST trade but I may hold.
The train wrecks are coming out now. Speaking of train wrecks, the DOW Transportation Ave. is trading under its 200 day average. Few on Wall Street remember or know of the Dow Theory. Long time over the decades. The transportation index leads the industrial index.
The same conditions are showing that we had at that bubble top. Tech frenzy. Bio Techs this time. And, of course, Apple is going nowhere than up. Back then Microsoft could never go down only up. Complacency... No way my mutual fund could ever go down.... Stocks detaching from earnings and earnings outlook. The dollar and gold are two to watch now. World wide central bank easing is building the coffin. Nail by nail. Of course the market guys won't give up easily with rallies on the way down which will create more volatility. Which is what UVXY is all about supposedly.
Sentiment: Strong Buy
Not with a spike . It just wore out. A long overdue reversal began today IMO. Went long UVXY @ 10.07 earlier. Looks like it could finally pay off. Holding.
I hope Andy has some body guards on the road trip. Longs are only a heartbeat away from disaster. JMO
Loss is expected by all including longs. Important will be margins and backlog numbers. You are the big joke.