Still looks really high to me. Lat high was 868 in August and it fell $2 - tat's huge if you can catch it right. I'm watching and might start a short here at 858 with a tight stop. I'll be right one day.

Looks like we are close to a top. Anyone following Wheat? Lat time it topped i treally fell hard.

So what does that mean? The island is bullish for VXX? 24 looks like a tough area to break and if we get about look out below for SPY? What do the islands mean? Thanks in advance.

yes I did. Note the bottom chart. It didn't go under 0 so I stayed long. I probably would nto do that if I was holding /TF, but futures are different and I don't mind holding the ETF's a little longer.

Jim,

(FAZ,SDS,TZA,and SRS) are not equities I would hold for a long period of time. They are short term trading vehicles. The only way I might hold i s short if I can get shares. e.g. short FAS if you think the market is going down. Either way, don't hold too long. In choppy markets you can get killed with the daily resets.

I've been using some 15 minute charts to get a trend direction and then buying and holding TNA/TZA for a few days. Or even a few hours like Friday afternoon. I would not hold any of these for a long time. Catching the recent "bottom" on July 5th and holding long was a tough thing to do as these move very quickly.

Many "experts" are calling for a big drop in the markets, so that probably means we will be going up. Who knows what will really happen?

As Matt said, have a plan and do your homework. Are you talking 401K/IRA/529 money? Or short term trading money? What? I have different strategies for different accounts. My 401K money is 75% in stocks right now. I have an IRA in 75% cash (I switch the cash from TZA or TNA depending on the markets.) Right now all I see is chop so I've been in cash for the last two weeks. But I am up 20% in that account over the last 2 months.

...and I have two account where I go to cash each night. One for futures only and one for stocks and ETFs like TNA/FAZ/VXX etc. It all depends on your specific goals for that money.

I'm not saying do what I do, but know what you want to do and have a plan based on when you will need the money.

They want to pin the weekly options at 260.

Picked some 3000 at 41.50 and sold at 42.50 - cant be greedy . Good luck.

Good luck. I picked up some TZA yesterday for a short term swing.

How did you trade TNA? It was going down most of the day. I can't find share to short.

It certainly was a nice week for the RUT. I've been trading TNA/TZA and the TF based on 15 minute RUT charts and it has really trended nicely. I hope it keeps up. I don't care if we go up or down as long as we trend for 10-30 points at a time. 

It has really give nice setups. I'm flat as of Friday night and waiting for a short signal. Gotta take profits on a 40 point Russell move.

RP - what's your target for TNA? I got in late yesterday. Seems to have a problem moving past 39.

The RUT is rebalancing today. Would that have anything to do with it?

Do you trade the /6E?

http://finviz.com/map.ashx?t=sec

So what are you waiting for? What kind of a signal? If the market goes up from here when do you get back in?

He needs a new water cooled Trading Computer!

Wow - maybe we open up 30 points tomorrow?? I don't remember ever seeing this large of a bump on a Sunday before.

VXX doesn't track the spot VIX. It tracks the short term futures and it look like they are higher than the current VIX now so we are loosing on VXX. 

3/12/10  [Bottom Line]: We expect a market decline to start next week. As we've been noting, the strength of any such decline that develops will be important in determining the proper wave labels for the next larger degree of trend.

I think they have been saying this every week now. I guess they will be correct eventually.

The VXX does not follow the VIX. It follow some futures. There is no ETF or ETN that directly tracks the VIX. I believe it follow this:

  http://www.bloomberg.com/apps/quote?ticker=SPVXSTR:IND