(Note: This is an abbreviated version of the original article on MarkStCyr.com)
Well It didn’t take long (a new all time never before seen in the history of mankind always fuels this) before not only did I once again begin receiving smirks from others in regards to my thoughts on the financial markets, but a few thought they would jab a few elbows my way adding that maybe I should not have been so forth coming, or so quick to write my thoughts on what Tony Robbins had been expressing. For as one person said to me “You seem to have a little egg on your face.” (more…)
Could fear possibly return to this virtually-always-levitating market of ours? In my post from October 16, I suggested XIV (the opposite of VIX) was “ready to rally.” Rally it did, but I think it may be poised to tumble (which means that fear will come swooshing back into this “market” of ours).
Way back on August 30, I did a post called Past Fear, Present Fear, which offered up an analog of the VIX (please read it if you don’t remember; it’s a pretty good post). I would daresay it was one of the best posts I did in 2014, and things certainly unfolded as I hoped they would (although today was no fun for me). I followed up on October 9th with my Moment of Truth post, which was just before the markets started really falling hard. Thus – so far, so good. (more…)
I got a brief scare this morning when I saw the ES was down hard, but it didn’t take long for the market to shake off its fear and power higher. This is precisely what I want because (1) I’ve got a lot of longs (2) I want the market, per my video last night and the post the night before, to get back to an attractive shorting level. As fear leaks out of the market, you’re going to see the XIV (the VIX symbol backwards – clever, huh?) push up. I’m looking forward to bulls feeling at-ease again. The next level we’ve got to cross above is 1864.75 on the ES, so watch it closely. It’s important.