ES Monday 8-14-17

Why I am short sided and all the levels I'm watching ...key upside range is basically 56 - 59 and we should be using 50 - 51 as a magnet price today...selling calls on the open today



trades above the 55 into the 56 - 59 zone should ideally use 53.50 as a first target just to be safe and here is why.....it is basically that pullback high from last thursday

Too busy hiding under my desk...I hate giant gaps. Ate my loss and kept it small.
Might try again at 67.
I'd like to try calculating SD by hand as I don't have access to TOS.

I'm wondering if TOS is just off today...I also have ticks making lower lows and lower highs as market keeps pushing up....strange

I'm averaged in at 63.75 now and not liking this campaign either....not sure if it is me, these data issues or both

why I continue to watch 65 - 67 ...this is my favorite chart from last wednesday.....a retest of 62.25 will make me happy...really grumpy now with data issues and failed trades...and what about the gap in the data...? Europe is closed does that mean buyers will disappear..?

the good thing about days like this( when we get beat up) tomorrow should be good. plus keep mind no o/n midpoint test yet either. i hope they dont so we have that working tomorrow too. now i go back to my corner lick my wounds..lol

I'm gonna win today...if it kills me .......I think I have good upper trade location based on average in price....not great location but OK location....I want low time area and test of R3...so 62 area test now will be good average in now is 64.50

Originally posted by duck

the good thing about days like this( when we get beat up) tomorrow should be good. plus keep mind no o/n midpoint test yet either. i hope they dont so we have that working tomorrow too. now i go back to my corner lick my wounds..lol

Sorry you worked so hard for a win today Bruce. I went long last night @open and was distracted enough and long enough to accidentally grab 8 points. That was enough to wait it out until I see something juicy.

Tried selling a RUT Put spread but the market running up just wouldn't get me filled.

I'll try that again tomorrow at different strikes. Then comes Bittman later in the week.

Here's to you guys killing it tomorrow.
Good luck to all!

yeah...today sucked as I had to work all day for that....I missed shorting Vix options on Friday and sure wish there was a better way to play shorts on $vvix....here is a chart that was popular lately....so selling call spreads or buying a put on Vix futures ( is there anything better to use ???/please let me know) would have been a good move,,,,note how the spikes over the 115 - 120 level revert back down

https://www.barchart.com/stocks/quotes/$VVIX/technical-chart#/technical-chart?plot=BAR&volume=0&data=WO&density=X&pricesOn=1&asPctChange=0&logscale=0&sym=$VVIX&grid=1&height=500&studyheight=100

When shorting VIX I use XIV, inverse ETF.

I don't buy XIV often, only when VIX closes>20 and the VIX structure remains in contango.

Since XIV started at the end of 2010, my son and I have made 18 trades. 11W and 7 losses. Great part is the winners go for 50% and the losers re cut at 10%.

Huge positive expectancy.