Thurs thoughts

347
everytime daily VIX has hung around 12, the VIX has made a massive move higher, all year, if u look at daily chart....just need to be patient and wait, and layer in

its just "too low"

321
notice how gdx has revisited the "old" Inv Bank Level of 25.77 even tho it overshot the target...this is very common ....mentioned before it was likely to go there

312
looking for 169.70 spy test lower, and see reaction

254
1483 Inv Bank sell level...will prob use that for vxx and uvxy quick trades that we took today

252
took profit on half the UCO bought this morn...

244
34.46 v tite stop on half uco---so tite it will prob be stopped out..this is ust a scalp so happy with it even if stopped...its just above trgt 2 now

242
remember..the old levels usually "stick" and they are often "revisited" when broken....the smaller firms use the old levels as the larger bigger firms raise and change their levels (aka big boy greed)

240
2673 is new Inv Bank sell level on GDX....they keep raising it, hence the updated posts...its a bullish stance when they do that

228
uco just hit trgt 2 of 3447, last 3449..still holding it...

227
GDX is susceptible to a move back down to old level of 25.77 if it goes to 2623.......not necess today

226
26.23 is still Inv Bank tier 1 sell level on GDX...they placed it below obvious chart resist of 26.47ish


221
still have 34.88 order in to sell uco...may change it to one of prev posted trgts...

218
 3435   3447  3488 array for UCO...same as b4...approaching t1 now
waiting...not selling at T1...

217
finally oil has broken resist on 15min chart...took all day LOL...watching for targets now...again not expecting a NUGT type move on this oil...just a scalp

216
sold a lil here...2573,,,and may be able to buy back at .60 .50 or something...still have half the quick trade, nugt

nugt up 22% from yesterday

214
Market Makers will prob try to sell some gdx at 2570..right here

213
GDX is now near Inv Bank sell level 25.77 posted this morning.....they have raised the level to 26.23 but the old level usually sticks....will watch carefully and may take a little more of the "quick trade" nugt off...already took some off as posted this morn....still holding the mid term multiweek gdx nugt, thats seperate position than the quick trade

204
quick rejection at 102.87 test on oil, but if data is correct that was daytraders or retail, not MM, selling there...always poss data is bad...

i remain scalp long oil for now

202
oil waking up here?
still needs to break the resist ,,,same targets

149
1690--1693 lower then stall then bounce,,,then may get second scalp opp to short for lower...watching

146
es 1695...short signal just rang...72% short intraday...in

129
11:10 and 11:55 am candles on CL oil 5 min chart are keeping me in the scalp...for now....but may be leaving this soon...its near breakeven atm

128
ultra low vol now on oil, since the high vol open

107
oil hit the 102.75 "trigger" prev posted....watching now for over 103

100
MM 34.35 sell level on UCO...MM not Inv Bank
so 3435   3447  3488 array for UCO

1257
15min oil chart has tested 102.90 twice...next test it may break it higher...3rd try often breaks it

1255
if gdx can go down to 25.15, and then hold there sideways ...may present a daytrade opp on gdx nugt

1250
over 102.75 is more impt than over 102.85...if .75 breaks then .85 prior 15min hi should also break

1219
below is the bullish RSI setup ...of course this is also a "bear flag" so it is contra-trend....thus the modest targets. but one can often trade quickly long in the bear flag, and then reverse to short side after contratrend bounce is finished.

Note that oval #3 is higher than oval 1, after being below 30 and then moving up. this is known as bullish rsi failure swing setup.... the "swing" has nothing to do with "swing trading"...its a 5 min chart so this is a scalp setup not "swing"...

i also like the large green candles on it, for small bounce

1210
rsi on UCO has moved over 43 on the 5min chart, not the sole reason for the trade but it has what is known as a bullish "rsi failure swing" so may get a little bounce, again just small modest targets on the contrattrend trade....

the 5min stock may need to go all the way back below 20 and then up again before the bounce, just depends

1205
uco 3447 and 3488 targets...will try for 3488 but if stalls at 3447 then may exit there instead

1154
watching oil 103 to see if it can break over it to 103.10--103.40 and may take a quick gain on uco if it does so,,,102.80 last oil price as it approaches the "test"

1132
Inv Bank sell level on GDX is at 25.77 under the prior daily high of 26.04,,they are back to "normal" practice of placing their levels above or below the "chart" obvious levels

1118
uco oil...order in to sell at 34.88 in case of surge...may sell it much lower but thats the "overshoot" quick trade trgt

1111
long oil sco...quick trade only still see lower oil later... 3404

1036
oil needs to hold here or stall...else another that stuff moves fast too when it gets going....else it could see 99 fast, last 102.40...and no sign of stall...yet

1030
 if MSFT gets over 33...may see higher and a short squeeze in msft....not my fav stock just fyi
its up 1% today, and swings could see a 5% pop if short squeeze

1021
still another 80% upside on nugt, for swings

1019
nugt still moving up. 14% sounds like a lot, but still lots more upside for swings

956
1690 ES impt supp level intraday...was overnight support but also was Tuesday 60min lows support (tues not wedn)

944
from swing perspective, still see a drop coming in spx, and hlding the uvxy and vxx, which move up very fast when they r ready

spx is really showing toppping action, for swings tho

investment banks continue to sell spy, aka bearish distribution, for swings, but takes time

942
on the sidelines now in es spx...its at a resist point but also in the middle...so waiting for higher to short or lower to buy, intraday

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".