Burtman's Blog : VIX Craziness

Methinks da VIX did a confirmed low yesterday and just retested the low today. BTW, methinks IAG will still hit 5.10 so hang in there. I eliminated 1/2 my GSS position this moanin so I am gettin slim in the goldie department. Methinks ALL sectors "might" pullback cept perhaps the energy sector n goldies....but even there I doubt there is much upside. *-) 3J

Howdy, Eric!

-- The vix just took out yesterdays low and turned positive on a dime. Time to watch close. --

Like the http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&mn=6&dy=0&id=p53695624302">Chicago Board Options Exchange Market Volatility Index (VIX), the http://www.ise.com/WebForm/viewPage.aspx?categoryId=126&header3=true&menu0=true&link1=tr..">International Securities Exchange Sentiment Index (ISEE) also has displayed pretty interesting behavior recently.

Good luck!

MackTheKnife

Thanks Mack!

Good to hear from you as always.

Thanks 3J -

I'm holding both IAG and PAL at the moment.

I'm thinking equities are fighting back because the dollar got hit this moanin. UUP tanked

Oh kewel! UUP tanking was yet anudder one o'me grrreat purrdixshuns! Here comes the horn!>>>>REEEE-CO-LAAAAH!!! :o Thanks Burtski....I did not notice UUP till ya mentioned it. That 24.07 low left a mark too.*-) 3J

Mack,
Nice ISEE chart. Now I SEE! It seems the market is trying... to ... get... just.. a little... bit... higher... sigh. Not surprising to me based on the money market levels at the market lows and low risk assets like t-bills. Investors still have a lot of cash on the sidelines, but I would expect an attempted retest of the lows again, this time a failed retest is very likely based on what some stocks have already done. I would like to hear from the Institutional about now to find out what those folks are doing, we are at that time of year again.

3J - does that mean at some point the low of 24.07 needs to be taken out? Gold may have a run when that happens.

Captain Obvious I am!

Yepper...24.07 goes bye bye on UUP. I already toldja the goldies are "the" play until the govmint "get's it right" ....I just hope you don't mind me taking profits....that's all. I never said I would abandon the only seckter that is gar-own-teed...did I? :-) Whilst you wait for the targets on IAG and yer pal PAL to get hit....keep yer eye on my GOOG buddy DUGgie....here's my "zone of influence" >>>25.27-21.66 *-) I'm wreckin the fun'll be dunn in the inflayshun hedges whenst DUGgie trades "into the zone" *-) 3J

Looks like you might git yer .17 target in KRY today...

DUGgie guess i screwed up on dat one, it ok though..

Burtski, concerning the Captain Obvious thingy...according to "popular interpretation" we are headed for a Depression....stocks will rally ifn the dollar falls....and the infrastructure plays will do well from this past Sun (after Obama announced his intention to "finally" get to one of the thangs the Bush regime totally neglected) going forward. My personal opinion is that none of these 3 thangs will transpire. :-) 3J

I also did alot better with GSS as I pulled my limit sell at .55 whenst I saw that it traded to there in PM trading. Sold 1/2 at .62 centavos. SAWEET! :-) In the meantime...I'm trying to get me buddy right on "the chiken" PGPDQ ...added on the pullback from the RSI high at .38 after that top got confirmed (.31 centavos buy)....shootin for .80 on this move. Check out that chart for an el purrfecto example of why a selloff after a beep "should be" bought....even ifn the stock sux as badly as the chiken do! :o 3J

77 on "the chiken" ...watch this tahng stop dead at .80. :-) Ifn when it do one of you fellahs can extole my greatness...ok? :-) 3J

Ohhh, .79 on the chicken, you still holdin out for .80?

I'm not holding for nuthin....but I called my buddy as it twas trading at .77 and told him to take it. "Hopefully" he did but even ifn he didn't....80 is gonna git tagged sometime over the next few daze...ya know why? Cuz I said so! :-) BTW, NE1 care to guess the buy numba to relaod for that move to .80 centavos I gar-own-teed? :o 3J

Reload at .375

I wuz sshtinkin more like .40-.45. But I like yer numba better....just as I like Wackojacob's .70 numba better for RFMD...even though I still have an open limit set at .73 centavos. :-) I'm wreckin the chiken takes out the .79 high foist however...anna ifn that happens along with a confirmed top at the same time then I wouldn't consider it a buy at ANY price...for now. :-) 3J

FXI now rallyin after a buy signal so it twont be long. It is already $1+ above the maxi one would expect for a move off of a trend low. The trend low was at $23 dallahs. That dictates a move sub $15 in the future. That bees why I likes FXP so much....a clear over-reaction....and it is based on the assumption of idiots that the recent cash injection into the Chinese economonomy by the Chinese govmint is somehow gonna prevent that bubble from fully unwinding. Yeah...right....we already saw that model here in the U.S. with Uncles Fester n Ben....down 45% this year alone after they were already 6 months into their rexscue plans into the end of 2007 *-) 3J

I might jist jockey some shtuff around here and help yun on chiken to .80 on the reload...

Methinks the chiken is gonna "top out" at .80 and then move down into the nether reaches. :-( Just watch the chart as the ADX line is breaking below 60 now....so a price move to .79+ will more than likely be a confirmed top. My buddy didn't sell so I told him to set his limit at .79 this time LOL ....but I'm STILL gettin .80! *-) I didn't git my limit sell on KRY at .17 filled none neithr...but like I always say>>>> Ooooooh well. :o 3J

I was looking at thatn and looks like it left an rsi high at .17 you dont think it takes 17?

I think i see whats going on here now...

Well, I "hope" KRY takes .17 as (or before) the HUI takes out 270.10...udderwise I "might be" CRYin.:-( 3J

WOOHOOOOOOOO! I just crossed the 2000 point barrier! I know I know...who shivagits?!! I was "kinda" hopin fokes would step up and send "congratulatory" beer. :-) 3j

Well congrats and here's to ya...

Still need an phone # to that liquor store. Unless you know of a delivery service?

UPS, FedEx, USPS priority mail (3 days or less garownteed!)

;)

Actually guys....I'll get to the Emails tonight. Plenty of time until the annual Xmas golf outting. Me n the buds hit the local city course on Xmas day as it is the only day of the year wherst golf is free...and joo know I likes that price. I sho do appreciate yuns fellahs providing the libations for our annual outtting. I will contact you with instructions tonight...thanks! *-) 3J

Saweeeet! DRYS already gettin trounced. My target to cash in me cheeps on the Dec 10 putskis I bot is $7 dallahs. Yuns ass-toot chart readers can plainly see that numba stickin out on the "10 day" I'm wreckin. I paid 1.30 for these putskis....wait'll ya see what happens whenst the SPX breaks below 885 .....whoooooaaa Nellie! :o 3J

The one "neggy" to the neggies is the fact that the SKF is rallying after a buy signal so I would look to be outta thatn at the close. *-) 3J

you still got yer limit on RFMD or'd ya cancel it?

3J - You thinkin the same with SRS as SKF? Rally after the buy?

Still waiting on RFMD with my limit...hmmmm, I just noticed that with SRS...same thang....a rally after the BEEP. SRS will pullback to the RSI low at either 94.60 or the one at 85.00ish. But make no mistake abouuuut it. SRS dunn did what I told it to done do. *-) 3J

Nice! RFMD filled @ .73 centavos. *-) 3J

Ha! .72 ;P Doan axe me thats jist where it filled

Hey Wacko,

Your IPiG is commin around again. I give her a range of influence of 2.57 - 3.00.

Well i doan really follow it, i had just tossed it out there one day as a 25% trade in two days that never woiked ot and yada yada yada joe ended up being right again (as usual) kinda deal.

But! i will make a note of it and attempt to track it wit ya ifn you will let me in the temple?

The 20-day just crossed below the 50-day on the VXN

Soooo...URBN made a "sizable" advance today towards its gar-own-teed destination of March 2003 levels which is "clearly" visible on the 10 year chart....and which you failed to review before you decided to get yer axe kicked I might add.....whatchu gonna do aboutit?!! :-) 3J

What will I do? I'll watch and see what happens when it fills that gap, else wait and see, no averaging down on the URBN my friend, too much volume on that gap. The real trade is Erl, sooo, as i said the $40 support will hold, and wait and see what I do to your FXI, along with emerging market and commodities. :O i should wait a few days for FXI, but I'm so giddy, i can't wait!

Now, speaking of gaps... let's see if the market can gap down tomorrow as I hope it will, then see what we have in store for all you sheeple waiting for the shlama, and then planning to buy the low. I don't know what will happen, but I do know that folks are selling and waiting to buy lower which means that they may be in for a surprise. It is so obvious that the market will sell now that it just has to sell, but I think there is something waiting in the wings ya know?