Monday, August 19, 2013

VIX-ing Up Is Hard To Do...


The VIX continued to be in focus today as the SPY closed below the 165 level.  This is the rebound that is taking forever, but if we close below 165 this Friday, the Weekly Chart Watchers will most likely come marching in to sell and before we know it, we'll all be starring in a new episode of Biggest Loser.   


I expected a lot more action as I was in that place where I was essentially short the S&P and long AAPL - definitely the right move directionally.  But after taking profits on my AAPL calls and getting in a call spread a few weeks out, the part of the process where I have to sit out a definitive move on the Super Bear calls I've recently acquired is really getting to me.  


Aren't they supposed to move fast?  I mean there were moments when I wanted to put another pot of coffee on.  Am I right?  Am I wrong?  The uncertainty is too much to 'bear.'  


9FM must take pleasure in tantalising me too!  After I thought he was ready to fill my wallet again, he's still trying to get me to work only on an extremely low commission - as in 60% below the market types of commissions.  I'm in discussions with some other 9FMs just in case - even getting in touch with some of my ex-bosses.  Who knows?  Maybe I'll end up working with all my Market Buddies...


All of a sudden, momentum is gathering once again in terms of the financial upside.  


+0.85% SBA

-0.74% Roth IRA

-0.47% DJIA

-0.38% Nasdaq
-0.59% S&P 

-0.53% FTSE

-0.56% Eurofirst
+0.79% Nikkei
+0.83% Shanghai
-1.56% SENSEX
-0.24% Hang Seng

-0.39% WTI

-0.57% Brent
-0.31% Gold
-1.06% Copper
+4.06% Corn

-0.72% DJT

+5.08% VIX

+1.94% 10-Year US Treasury Notes


19% Advancing Issues on NYSE           |   17% Up Volume

79% Declining Issues on NYSE            |   82% Down Volume
2% Unchanged                                 |   1% Unchanged
20 New Highs   |   502 New Lows

29% Advancing Issues on Nasdaq        |   28% Up Volume

68% Declining Issues on Nasdaq         |   69% Down Volume
3% Unchanged                                 |   3% Unchanged
49 New Highs   |   52 New Lows


Today's Major Headlines:


New Apple iPhone Rumoured To Ship In Early September & May Have Fingerprint Scanner...


Rupee tumbles as India concerns grow and emerging markets turmoil builds

UK Gold Exports Surge Tenfold...




No comments: