I added to my $VIX at 15.83. I am gonna leave my exit all the way up at 27 and set an alert at 22. If we cross 22, I will probably move my stop way into profit, but leave room for it to go to 25.
Trading is really an odd pursuit. I'm solidly profitable over the last 2 months. At the same time, I have been stopped out so much that it doesn't feel like it. I dont mind, but it really is strange.
@NoelKapela I already stopped out of this. For me, it is in no mans land. Although $VIX finally set up for a long, so, my guess is that $QQQ finally gets a correction of 3 or more %
@travels007 20% would be pretty small considering where we are at. I think we jump past 22 from maybe around 14.
There is no rally currently, so we could drift down even to 11 or so.
The way that $VIX closed the cash session with a hard drop from the declining 5 ma is telling me to be patient as I look for an entry. This is happening at the same time that $QQQ $NQ is playing with breaking out of a long rising channel at 568~569. We could get a ridiculous blow off top for a few days. I may get long $QQQ again, but with a tight stop and probably not overnight.
$QQQ sold the rest of my position already at 528.25. Way too weak since the open of premarket. Over 2% profit on my total account equity. I'm really happy with this since 2% per month is my goal, with minimal drawdown.
$vix looks stronger, $USD is definitely stronger, and all major markets seem to have gapped some. If these themes continue into the morning and $QQQ leads a sell-off, i will be looking to get long $VIX again.