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Strategies & Market Trends : General market lab and commentary
SPY 679.70+0.7%Nov 26 4:00 PM EST
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From: Robohogs2/29/2016 12:31:34 AM
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When I started tonight, the futures were at fair value. Now 0.5-0.7% below depending on mkt. Risk off day developing - up yen, up gold , up bonds. I assume /VX too.

I just saw a new blog where the guy mapped out scenarios. He too thinks we need lower first to get to higher. Doing so would build thrust to get through inverse h&S neckline around 1970/80 on futures. Target would he 6% higher. There ate two stopping points per him - 1933 (just below here) or high 1800s. It is hard to believe we are already off nearly 2% from /ES Friday premkt highs. He has not changed my mind but shows in charts what I was thinking in words. I think high 1800s too extreme but ideal set up area. It will scare longs being below 8 day.

I will harvest some AMZN short calls and maybe GOOGL short calls. I may get out of an effective long vix strategy using derivative equities which started as short vix and overshot. I will hold until I see upside coming back. I likely will keep gold longs - huge profit given up late in week (current position showing modest loss but not showing the 1/3 taken off profit nor the hedge profit from diagonal short calls which expired worthless). My short puts in IBB will be expanded if mkt looks to stabilize.

Jon
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