UVXY Calls

The UVXY Calls added last Friday are now up 15% and 20% (August/September). This is why I like to add when I see good signals, the idea is I am buying WITH smart money, sometimes that's hard to do as price can be at a place that emotionally is difficult to enter, but that's the way the market goes, there are no guarantees, just probabilities.

Here's what VXX(the same as UVXY except without the leverage) looks like this morning and as the position was added. For now I am going to continue holding both months' calls, remember these go up when the market goes down.

 1 min chart looks to be starting to lead positive on the day.

 That leading positive hasn't made it to the 2 min chart yet, but if it does start to migrate and price is still reasonable, I may add to the UVXY call position, but there has to be a signal showing high probabilities develop, or in other words, I want to know this is likely what smart money is also doing.

 The 3 min chart had a beautiful positive divergence when I opened the position Friday.

 As did the 5 min chart which was and still is in leading positive position, this is one of those pieces of the puzzle.

 We saw some 15 min chart damage in the averages yesterday, we see some 15 min chart strength here from yesterday and today, this would be confirmation between VXX and the averages.

 Overall the 30 min above and 60 min below also look very good, with short term ETFs like this I tend not to attribute these longer positive charts to longer term positive trends as the ETFs are used mainly to take advantage of short term moves, but I do view them as a sign of strength behind the move.