The Investment Thread

SaintInBucLand said

Same, plus my snap puts this morning were huge. Made an already decent week even better.

I wonder if we test the lows in the spy. In the coming weeks. Between earnings and fed minutes next week with the rate increase the vix will be high.

Click to expand...

Technicals suggest we are still in a downward trend until SPY breaks 410. That means there is a very good chance we go and at least test lows and given how hard the down runs have been the last 7 months 2 weeks can run a long way. For that reason, I took some $18 UVXY calls out that expire at the end of next week for pennies.

We could also trade between 370-400 and be stuck in a range for a while before something breaks and the market finds a longer term direction but that would be a significant trend breaker. Either way, I think we are going lower and positioning myself for it unless we get above SPY 402 at which point I'll ride the wave to 410, repositon again for a down turn. If it breaks 410 then I'll go really hard long. As long as the market does go sideways I'm going to make money. The question will be how much can I scalp it for.