UVXY scalp, just for second, just to see how it feels
We have range expansion to the upside on UVXY, signaling the trend is likely up and there'll be some follow through.
In stocks, most of the movement since 1993 (first ETF was introduced) has come after hours. Instead of day-trading, we want to hold overnight and (hopefully) exit on a gap the next day. The VIX typically spikes and then fades, and right now it's looking to spike. We want to exit on Monday or Tuesday before the market dies down again.
Long, no target, stop around the basis ($11.30). If the first 15 minutes on Monday don't show any promise, we're out.
In stocks, most of the movement since 1993 (first ETF was introduced) has come after hours. Instead of day-trading, we want to hold overnight and (hopefully) exit on a gap the next day. The VIX typically spikes and then fades, and right now it's looking to spike. We want to exit on Monday or Tuesday before the market dies down again.
Long, no target, stop around the basis ($11.30). If the first 15 minutes on Monday don't show any promise, we're out.
Nota
Update at market close: price bled backward after entry, but the trade idea is still valid. Looking for a gap to close it out on Monday, or maybe Tuesday if there's a slow grind down instead of a gap.I tend to play the short side of the stock market as scalps only, especially something like the VIX which has huge downward pressure.
Nota
Pre-market Monday update: not looking great as price is flirting with the stop. Most movement in stocks happens in the first 15 minutes of the day. It's possible the position moves in our favor immediately after open, but if it's still on the wrong side of the basis after 15 minutes then I'm out.Nota
15 minute Monday open update: it's hovering just above our stop. Will monitor the position with the expectation we get stopped out.Nota
Post market update: it has been a wild trade! We were on the verge of stopping out, then the trade moved into profit at the end of the day. Strong closes usually signal some sort of follow-through the next day, so we'll look to exit tomorrow.Dagangan ditutup: sasaran tercapai
Caught a small profit and I'm out. I expected more follow-through, but you have to take what the market gives!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.