Adomant's  Instablog

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Been trading for over 20 years. Like others that have been involved for this long, I have seen things change drastically and quickly. Any investor that says that they don't need to learn new things, they just stick to what they know, is not in touch with market reality. These markets change by... More
  • The Way Tech Goes Is The Market Direction 0 comments
    Mar 14, 2013 10:42 AM | about stocks: QQQ

    The Tech market has been a severe laggard in this euphoric advance, and for good reason. Its not only AAPL anymore. It is now GOOG, AMZN, & BIDU just to name a few.

    This break in tech is always a precursor to a market top. Add this sign to all the others that have been popping up for the last month or so, and you get a recipe for a correction.

    Tops do not happen in one day or overnight, it is a process and this process is very near its completion. I am looking for a major start to this weakness to start within the next few days, probably later today or tomorrow. This is because there is a lot of open interest calls and short put positions out there which has pushed the vix below 12, which was a big support level for the vix these past couple of months.

    Good Luck and use protection!!

    Disclosure: I am long TZA.

    Additional disclosure: I am short the market!!

    Stocks: QQQ
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