{"id":9154,"date":"2012-01-05T00:21:52","date_gmt":"2012-01-05T05:21:52","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=9154"},"modified":"2012-01-05T00:22:39","modified_gmt":"2012-01-05T05:22:39","slug":"t2108-update-120104","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/01\/05\/t2108-update-120104\/","title":{"rendered":"T2108 Update – January 4, 2012"},"content":{"rendered":"

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page<\/a>. You can follow real-time T2108 commentary<\/a> on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag)<\/p>\n

T2108 Status<\/strong>: 70% (overbought day #2)
\nVIX Status<\/strong>: 22
\nGeneral (Short-term) Trading Call<\/strong>: Close more bullish positions, begin\/expand bearish positions<\/p>\n

Commentary<\/strong>
\nT2108 closed the day clinging to overbought territory. I intended to expand my own bearish T2108 positioning. However, I realized that SDS<\/a> is still sitting near flat with my original purchase price. So, instead, I decided to wait until I can fade the next upward surge in the S&P 500 (SPY). I am not predicting another surge. I am just stating my rule here for expanding my SDS position; if I had no SDS in play, I would have definitely initiated a position. In the meantime, I decided to speculate on VXX<\/a> calls (not in the T2108 portfolio) just as an ordinary play on 200DMA approximate support. VXX closed BELOW the 200DMA, but has not yet broken below December’s low.<\/p>\n

The volatility index, the VIX, is still trapped between presumed support and the recent downtrend line. I think a resolution of this convergence will be explosive. I may convert my VXX calls into a strangle position by adding VXX puts.<\/p>\n


\n
\"The<\/a>
The VIX appears headed for an explosive move - up or down<\/figcaption><\/figure>
\n<\/center><\/p>\n


\nCharts below are the latest<\/strong> snapshots of T2108 (and the S&P 500)<\/em>
\nRefresh browser if the charts are the same as the last T2108 update.
\n<\/p>\n

Daily T2108 vs the S&P 500<\/strong>
\n\"T2108<\/a><\/p>\n

Black line: T2108 (measured on the right); Green line: S&P 500 (for comparative purposes)
\n<\/center><\/p>\n


\nWeekly T2108<\/strong>
\n\"Weekly
\n*All charts created using freestockcharts.com<\/a><\/strong> unless otherwise stated<\/a>
\n<\/center><\/p>\n

Related links:<\/strong>
\nThe T2108 Resource Page<\/a>
\nExpanded daily chart of T2108 versus the S&P 500<\/a>
\nExpanded weekly chart of T2108 <\/a><\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long SDS and , long VXX calls<\/p>\n","protected":false},"excerpt":{"rendered":"

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 70% (overbought day #2) … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[32,512,135,511,62],"tags":[65,226,1597,303,178,120],"class_list":["post-9154","post","type-post","status-publish","format-standard","hentry","category-options","category-resistance","category-stock-market-trading","category-support","category-technical-analysis","tag-sp-500","tag-t2108","tag-technical-analysis","tag-vix","tag-volatility","tag-vxx"],"yoast_head":"\nT2108 Update - January 4, 2012 - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/01\/05\/t2108-update-120104\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update - January 4, 2012 - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 70% (overbought day #2) ... 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