Daily Archives: February 2, 2018

Equity Volatility is Nearing “Critical Mass”

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I last wrote about the SPX:VIX ratio in my post of January 31.

The SPX continued its plunge (that began on January 30) and closed near its low on Friday (spiking the VIX to a new daily swing high), as noted in this post.

The following monthly chart of the SPX:VIX ratio shows that price closed well below, what was, major support of 200 and is hovering just above the 150 Bull/Bear Line-in-the-Sand or “critical mass.”

Furthermore, the momentum indicator has fallen below the zero level, hinting of further equity weakness to come in the longer term. (more…)

What A Day…..

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……..for me to be sick! I’m truly not feeling 100%, folks, and I wish I was. These are the kinds of days I live for (although, weirdly, I took stock of my emotions, and I wasn’t at all happy………so I think I’m committed to being a total sad sack, no matter WHAT my portfolio is doing. I suck!)

Anyway, after the Apple/Amazon earnings orgasm (see circle), the NASDAQ has been showing no love to its zealots.

nqdd

I came into the day with 57 short positions, and every single one is profitable (some of them obscenely so). I just sent out this post to my PLUS members celebrating a tremendous trading victory. For those of you who have financially benefited from my hard work here, I would encourage you to join Slope PLUS. Members make this place possible!

Hack Hack Cough

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Greetings from my home office, where it’s three in the morning and my dogs are wondering what in the name of God I’m doing up. Well, I’ve been coughing a lot – – so much so that I couldn’t sleep – – but was pleasantly confronted with huge splashes of red across the screen.

It seems that blowout earnings from AAPL and AMZN aren’t doing the trick. Like I’ve said here before (to some amount of derision……….) Bull Markets DIE on GOOD NEWS. And we’ve had a hell of a lot of good news. Anyway, I think the NASDAQ is poised for a measured move. I didn’t do a screen grab big enough to show the target.

nqhack