See the past few updates for the bullish setup we've seen developing for well over a week now, ahead of March Options Expiration, and due to the timing of this rally, coupled with today's fed announcement, I would expect the short sellers to be forced to continue buying Chinese stocks, all the way into the weekend. More on this when I reveal the $VIX chart.
I'm seeing this as a short squeeze, not a bullish reversal, and there's a big difference! Of course a short squeeze can last several weeks, and this one might.... and a bullish reversal always starts with a short squeeze, but time will tell.
This is going to require constant charting, over the next few days, just to confirm the reversal, and making predictions - more than a week out - is foolishness. If you can get to the point where you can time the market a few day's out, and allow enough time for cash trades to settle, and take profits, you're killing it!
It pisses me off when people ask me for targets and timelines, when we're still trying to confirm a reversal. This amounts to counting your chickens, before they've hatched, and that's for losers!
Of course I wish I had doubled down on my China bets, yesterday morning, but it's good to keep some dry powder, for a rainy day. My trading style can only be described as aggressive, but that doesn't mean fast and loose, or reckless. It's more important than ever to practice proper money management. Hopefully I find the time to finish the book - the one I started years ago - because I think even the most seasoned traders would get some useful information out of it. The market has changed a lot over the past few years, and my trading style has had to adapt, to fit the new normal.
One thing that thankfully hasn't changed, is a good old fashioned market crash, and I'm not talking about Oil. Bloomberg was calling this 30% pullback in oil a "crash", yesterday, and that just proves that the more that the more they talk, the more foolish they sound.
By the way: If you'd like to get my take on Oil, donate $100 to the website, and PM me.
Don't let emotion (fear or greed) control your trade
Instead of giving away more free targets, I'm going to give you some good trading advice. Trade what is moving. trade what is crashing, but don't chase a crash, unless the fear - as measured by the $VIX - can be verified. Why? Because the lame stream media can call something a crash 5 days a week, and even point to the risk of WWIII, but at the end of the day, fear is measured by the $VIX.
The $VIX has been propped up, long enough
The FED Banks have been shorting the $VIX, at least since '08. Nothing new
— Veteran Market Timer (@3Xtraders) March 10, 2022
Yes, the $VIX is rigged, and especially when the Powers that Be, decide to juice the market with more free money, but you still have to trust the $VIX above all else. I've been reading the $VIX for over 10 years, and it deserves an entire chapter in the book.
Can't trust the main stream media, or social media
I run across a lot of fake accounts on twitter - probably run by unscrupulous hedge funds - trying to convince people that the $VIX is going to go higher. What is that? That's planting seeds of emotion, to help sabotage your trade, and only a crooked hedge fund would attempt to benefit from such mind-fuckery. Like I said last week, these are "dirty bastards", who are trying to steal your money.
The Charts
I did a lot of charting yesterday - several hours - and by the end of the day this rally looks like the last few dead cat bounces, but in hindsight I think I could've ended the day more bullish, based on the $VIX chart.
$VIX - do you realize we haven't seen a higher high on the $VIX for more than a month? That doesn't point to nuclear annihilation, any time in the near future.
But what about the NASDAQ 100 $VIX? No... some liar was invited to come on Bloomberg, and make the claim, that somehow the NASDAQ $VIX is more scary, but this is their MO! Claim to have timely information, and then lie your ass off. And the icing on the cake is that they like to push political agendas, to a captive audience, when that has nothing to do with trading, or investing! It's evil.
$NASDAQ 100 $VIX (the $VXN) is no more "elevated", than the regular $VIX. Some schnister on Bloomberg lying...
— Veteran Market Timer (@3Xtraders) March 10, 2022
Exactly what I would expect from the dishonest Micheal Bloomberg network, and a crooked hedge fund manager.
$VIX - is set to plunge into what looks like a powerful wave 3.
Take Care, AA
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