NEW SEPTEMBER LIST IS UP

I've been looking, running scans and that VIX chart is the thing that I'm really focused on. Last time we saw 3C accumulation it doubled, that means the market falls-a lot. I think that was the sell-off that ended with the flash crash.

So open interest on the VIX is $45-that's the heaviest for the calls, I don't know if it goes that high as they tend to pin the big open interest, but that all depends on who owns those calls and if we're seeing accumulation in the VIX, then we may assume Institutional money owns them. In any case options expiration is this Friday, which is starting to fit together.

I laid out several shorts, but looking at a lot of charts, I'm seeing a mini version of what we saw just prior to Sept. 1. Which means we have some time early in the week to get that head fake I mentioned. We got a couple and Thursday's was pretty close to what I wanted to see, but not exactly. It needs to be convincing. If you are in serious doubt and ready to cover shorts, then that's probably the one.

There's a lot of bullish sentiment building about this inverse head and shoulders that is part of the bigger head and shoulders top. So a nice big move up, one day or 3, whatever, may do it for the bulls. The market is under heavy distribution, GOLD is too, and they look like they want this bounce or head fake. The VIX lines up perfectly with a big sell-off, but like I've said about this Judo concept, they need fuel for it and the more longs they can slam in the door the better for the decline.

I know it's been since September 1st and it seems like forever, but it's only 8 market days for what needs to be a serious catalyst. There is the off chance that something drops early in the week and we are down, but I'm guessing and it's just a guess that this is going to go down on Thursday or Friday, I'm leaning toward Thursday. There's a lot of reports that will be out those two days and I have a feeling the revisions on Initial and Continuing claims are not going to be very good. It just makes sense, the government guesses for seven states and the biggest economy in the IS, the 8th biggest in the world, estimates? Those revisions have got to be the key and I think Wall Street knows it because it's likely the data is already out.

So if you do like I do and keep at least 25% cash on hand, I'd play the bounce with any of the leveraged longs-UPRO or SOXL, FAS, URTY would probably be a big mover, UWM, UDOW, TQQQ, etc.

Look, this isn't going to be a ride in the park, it'll be scary, but everything seems to be lining up. Back in late August we could see the bounce, we had an idea of what is was (not an oversold bounce), but we just didn't know how it would end. Seeing that VIX chart looking the way it did, kind of connects all the dots. So as I say often, the market is like a pendulum that swings way too far one way and way too far the other, rarely is it mediocre.

It's been months since we've seen accumulation in the VIX, a move higher will put it at new lows, probably for the year and we know that it trades inversely against the market, add the accumulation, and this all smells of a scary bounce and major crash this week. That's me going out on the limb which I hate to do, but there's too many things lining up. All these shorts I put on the list, but said wait for a bounce, the charts look horrible.

So that's my opinion. There's a few "cats and Dogs" longs on the list because they tend to be there at the end of a bull move and they move fast and far, but remember they are speculative so take the gifts f they come, don't assume they'll last all week.

Nuff said for now.

Have a great week and look at those charts. I'll be adding more and more to the list.

Accumulation in the VIX in the green boxes and white arrows, blue arrow is the move, the market goes the opposite direction.