To get caught back up to speed:
Yesterday - Thursday - I started writing what started out as a humorous idea for a blog, but after an hour into it, I found myself having to explain the joke, and when you need to explain a joke, it just isn't funny anymore.
In hindsight I should've updated the previous day's market action, and that I was expecting a pullback, based on where the $VIX was trading (at my green line).
You can find that chart in the #1 spot in the public charts lineup - linked in the left hand side menu.
As tweeted: I "took profits", soon after yesterday's open, and from there all we saw was continued weakness.
I took profits in $SOXL this morning, up 20%. $SOX #ChaChing #Stocks
— Veteran Market Timer (@3Xtraders) January 13, 2022
We also saw a massive reversal in Natural Gas, which I've also been covering on twitter, and I can't say that I've ever made a more perfectly timed, and accurate, call on Nat Gas, than the top I called, Wed. afternoon.
FFS #NatGas ran a little further than expected, so I'm lowing the downside target.... pic.twitter.com/pCWq3PtJ2Q
— Veteran Market Timer (@3Xtraders) January 12, 2022
And if that wasn't enough, I've remained bullish on NatGas, up until this point!
Update on NatGas: I expect it to consolidate sideways and make another run at the recent high, before selling off again. Seeing futures down only slightly this morning, so this obviously isn't the big correction, I'm looking for.
As I also tweeted yesterday:
I like the volatility. This is trading at it's best! $VIX
— Veteran Market Timer (@3Xtraders) January 13, 2022
$VIX is Driven Just Above 20 - Going Into Yesterday's Close - But By Whom?
The $VIX managed to close just above 20, and Bloomberg was reporting that the market would "sell off into the close", some 20 min. before the close, so my question is who is writing the script...? Seems quite obviousness to me that the same people who had planned to drive the $VIX just above the magic number (20), going into yesterday's close, also work for Bloomberg.
Then after mission accomplished, Bloomberg host, talks up the sell-off on the $NDX, trying to make it sound like the worst thing that's happened since the covid crash! Who is it they're trying to scare? The average investor or course.
Today's trade
Now that the market controllers can declare "mission accomplished", the $VIX can be hammered back below 20, and the market can rally into another truncated week, as planned.
Have a great weekend, AA
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