Be fearful when others are greedy
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Since the news of the US-China trade agreement signing last week, many global indices have went up quite a fair bit.
Looking at the fear index, it is once again touching the base which means a correction is forthcoming. Because this fear index spike up really fast. it is difficult (at least for me) to chart with accuracy where it would retrace.
But like I said, a big picture direction is more than adequate and it can either bounce off from here or go a little lower before rebounding.
Thus, it would be wise to take some money off your trades. Some I know had already closed their books and getting ready for Christmas holidays. Say you have 3 contracts, it might be good to close half of your positions and let the remaining run. There is no formula how much to take , it really depends on how comfortable you are with the current risks.
Trade cautiously !
Looking at the fear index, it is once again touching the base which means a correction is forthcoming. Because this fear index spike up really fast. it is difficult (at least for me) to chart with accuracy where it would retrace.
But like I said, a big picture direction is more than adequate and it can either bounce off from here or go a little lower before rebounding.
Thus, it would be wise to take some money off your trades. Some I know had already closed their books and getting ready for Christmas holidays. Say you have 3 contracts, it might be good to close half of your positions and let the remaining run. There is no formula how much to take , it really depends on how comfortable you are with the current risks.
Trade cautiously !
Nota
2 small candles alone on the support level at 12.0 has already rock the indices down a few notches. I had taken quick profits on these shorts and trimmed my sell positions as I am still cautiously optimistic about the equities market.
Nota
Watch the last green candle, a bullish engulfing candle. Beware now ,the equities market might correct tonight.....Nota
sorry folks if you are still long on equities, i did warn about it earlier this morning.all indices are in the red for now........find an opportunity to get back in , cheaper
Nota
Volatility ahead as you can see it rebounded from 12.0 price level , went up to 15 and dive back down and now, it gaps up to the same level again.That signify the equities market ahead will be choppy so manage your trades carefully.
Nota
whenever VIX comes close to 12 level, I am cautious of my positions especially the indices. All major indices on the US market is at all time high and a correction is expected. How severe it is, nobody knows. Some say to sell on news today - the day of signing Phase 1 agreement.I will monitor closely and update
Nota
watch your position guys ! See how strong the support at 12.1 is, it simply refused to go lower.Nota
I know some of you guys are still holding on to the VIX counter and has profited handsomely by now. Congratulations and remember to take partial profits, adjust your SL. What's going to happen next is beyond what we can think of..........
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