John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Fintas who wrote (16330)	12/12/2014 3:27:53 PM
From: Davy Crockett	2 Recommendations Recommended By Hawkmoon toccodolce Read Replies (2) of 33421

Yes thanks for the chart... I have been in UVXY since December 8... VIX on steroids lol... I'm trying to make a decision to stay in for the weekend... or keep riding it. Dunno if it's smart but based on the weakness of the major indices I think I'm gonna hold. December is a real anomaly for this type of negative action. Besides... the set up of the various indicators that I follow (especially ADX and DMI+ and DMI-)on the VIX is turning into my favourite play or chart setup of any time frame. The fact that it is happening on the daily, only suggests that there is a lot more weakness ahead. FWIW Take a look at how the ADX is turning up from 10 to 16 with the +DMI really ramping up here. That is my most favoured setup, and it doesn't occur all that often. Alexander Elder has to get the credit for that one... cause that's where I learned it from so long, long ago... I think the book was called 'Trading for a Living' or something like that.

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