We have our first of two volatility trades edging closer to triggering this morning. PRO subscribers are active and sophisticated enough to craft their select their own options and entries, but for guidance and trackign purposes (as well as my own personal trading) here are the parameters: Buy Signal Pending: UVXY on any print above $9.50 (currently 9.35) Option: Sep 16th $9.00C (currently 1.15-1.18) Stop: -50% (firm) Note: This is an aggressive trade, to be followed by a second volatility trade basis an anticipated Intermediate Term VXX Buy Signal in the Premium Service. For whatever reason should this trade lose 50% we still want to preserve capital for the second trade whenever that gets triggered. Alternatively, take only 1/2 position on this trade, and hold 1/2 capital back for the VXX trade, when and if triggered. UVXY Hourly Further price strength today above the top trend line will confirm the Hourly Trend Model Buy Signal shown on the chart, This is an early entry to what is expected to be an intermediate term spike in volatility, UVXY, VXX and VIX, over the next 2-4 weeks, minimum. QQQ QQQ 320 is setting up to be a key level of support if there is any more strength left in this Wave 2. A failure to hold above 320 would be be strong evideince that the long awaited Wave 3 down is unfolding. That we are at this level going into a Friday close is just perfect, making Sunday night futures and next Monday's open must see events. QQQ Intermediate Term Rollover: QQQ Aug 19th Put positions expire today and we do not want to go into September expiration period without exposure to the downside in index puts. Accordingly, unless already in position with Sep/Oct expiration index puts, we are adding the following to the PRO option portfolio: QQQ Sep 16th $315P (5.88-5.90) and/or QQQ Sep 16th $300P (2.62-2.64)
