Interesting...Shows how fast DDD moves in both directions! I look forward to next week, to see if we've seen the bottom or drop further.
Sometimes fear & sentiment rules the day, no matter how great a deal a stock is. I'm looking to buy BIDU back in the 150s.
No worries stocksgirrl, I bought QUNR @ 26.70 & sold at 33.05. Got a decent gain for a couple weeks. Looking to get back in around $25. I'm expecting a bigger drop. Thanks for remembering! Also sold BIDU above $173, before its huge drop. Saw the 3rd black crow developing & sold before end of that day. Thanks for watching out for me, & appreciate that for the future, in case I'm not paying attention & miss something!
The VIX is a futures instrument, & futures are subject to backwardation & contango. In contango, futures prices for a given maturity date are falling...the futures price is above the expected spot price, so its price is falling to meet that spot price. Last year the stock market kept going up & up, with unexpected little volatility, so the VIX went down (and SVXY the "short VIX" went up). Some traders bet on pullbacks that never happened, so most of the time the VIX futures price was higher than its spot price, so the VIX futures price fell & the VIX was in contango. Now the opposite is true. Read on VXX board several times last month, that prices are in backwardation to April futures. So kept watching the markets & the VIX. I don't have time to do detailed research, & am not an expert in futures & options, so some info I get from the VXX board. After the volatility reverses, then the point of SVXY is to ride the volatility back down. Bought VIXY a wk ago Fri, because the rally looked tired & about to roll over, & had headwinds of events w. Russia & China. Uncertainty increases volatility, causing VIX to go up. When things calm down, volatility will decrease & I'll ride it back down w. the short-VIX ETF, SVXY.
Good to take advantage of the backwardation while it's there. It's usually in contango. When stock market is finished dropping, then can trade my VIXY for SVXY.
Thanks stocksgirrl, that's good news for today. We'll see if it holds thru the close & the weekend. If a lot of options are still in the 50s, this could result in a temporary bounce & head back down. I'll be watching DDD closely Monday & next week.
It's about time! Hopefully ONVO fleeces SA & the author enough to prevent other companies from getting sheared. SA should be put out of business & the author barred from writing for any agency. But don't think that will happen.
Didn't trust this market, so I bought the VIX last Friday less than 10 seconds before closing! Exchange closing bell started when I pressed the button, & the trade went thru! Already owned SH, bought it earlier last week. Things could turn around quickly & burn me, but took the chance. Only thing I missed was gold. Almost bought GLD & GDX, but chickened out. Point is, DDD will have a tough time going up in a dropping stock market, regardless of whether DDD is ready to move up or not.
Sometimes 10-11 AM & 3-4 PM. Maybe volume of traffic is too much for My Portfolio Page to handle beginning & end of trading day, w. lots of traffic wanting to see how their stocks & watch list are performing. Also have problems w. yahoo msg board 3-4 PM...It won't let me navigate & have to write multiple msgs for 1 to post.
Back above double bottom of 8.36 & 8.39. We'll see if it holds.
Hi Cybercash, I've seen your posts on DDD & I think QUNR. Sold QUNR above 33 & will buy it back cheaper. I'll buy BIDU back cheaper, too. 150 or below would be a gift. Really don't trust this market & looking for a pullback. Momentum stocks will get hit even harder, even if from China. You're right that posters can be brutal, esp. on the DDD board! Financial boards are for sharing ideas & observations, & I enjoy reading yours. Have a great nite!
Selling, because by end of day there will be 3 black crows...a candlestick charting term for 3 consecutive down days, after a rise up. If you click on the candlestick option for BIDU interactive chart, you'll see the 3 big red or black candles down, after today is posted. Normal pattern for the 3 black crows is a big drop, followed by a temporary misleading rise to frustrate both shorts & longs, then 3 more crows show up, only to fall to lower lows. This pattern usually repeats 3-4 times, but saw as many as 6x. This is just the start. BIDU is a great stock & will fly after the crows fly away & stock bottoms out & rises for real. I'm not standing in front of this freight train. Stock market is not looking good, so I took my gains & will live to fight another day. It will be awesome to buy BIDU back at lower prices! Not everyone will be happy with this call & sometimes the crows fail, but the majority of the time, this pattern does play out after they show up.
Cracked 62 into 61.90s, but bounced right back above 62. We'll see if 62 holds. If not, next line in the sand is 60. Then 55.
We're still on the 2nd round, because we didn't get a bounce back up from this round yet. Although it is possible to have 2 sets of crows within 1 round. That's unusual & would be very bad. 3rd round starts when we get a temporary bounce back & the crows show up again. Falling further below 200d ema now. 50s on those options Stocksgirl mentioned look likely now.
When DDD hits bottom, there will be one heck of a short squeeze on the way back up again! Until then, DDD could not only get hit due to technicals & shorts, but also a stock market pullback.