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Lottery Long
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Lottery Long

by The MoleJune 27, 2018

I know you many of you guys are salivating to jump in here and buy the dip. And given that I just grabbed my own lottery long position (at 0.3%) I decided to add a bit more meat to the bone technically speaking. In terms of price patterns we are seeing tepid signs of buying interest but I don’t want to jump to early conclusions just based on a spike low and some moving averages (see yesterday’s update).

And when it comes to equities my golden rule over the years has been ‘when in doubt look at volatility‘. The implied kind as well as the realized but today we’ll focus only on the former and not on the latter.

Shown above is a simple VIX chart with a standard 2.0 BB around it, very similar to the one we use for our VIX Buy/Sell signals. The spike > 19 on Monday definitely puts us on the map for a reversal, but if you turn off your wishful thinking for a moment you see that quite often there is a bit of whipsaw preceding a drop in IV.

Now let’s zoom in a little. You remember that a VIX buy signal requires a pop > the upper BB, then a drop inside it, followed by a close below it. Many times (but not always) this formation will be followed by a marked drop in IV in the ensuing week. The VIX as of this writing has fulfilled two of the requirements and today should be interesting to say the least.

I’ve been playing with this more exotic ratio recently – the TED spread vs the VIX. Wikipedia defines the TED spread as the difference between the three-month Treasury bill and the three-month LIBOR based on US dollars. To put it another way, the TED spread is the difference between the interest rate on short-term US government debt and the interest rate on interbank loans. TED is an acronym for Treasury-EuroDollar rate.

Mole simply calls it the delta between what the Fed paysย you on 3-month government debt and what the banksters are charging each other (3-month LIBOR). I put that contraption in ratio with the VIX and somehow it seems to be working quite nicely for BTFD.

What I’m seeing right now is the possibility of a reversal BUT the odds are not really that impressive as there still remains room to run.

So this is definitely not a play I would have taken last week, given the weekly statistics. And it’s not a play I would hold over the weekend unless I see significant upside in the interim allowing me to advance my stop > break/even. Remember that we are closing in on July 4th next Wednesday with only a half session scheduled for Tuesday.

The risks of more downside are at least 50% at this time and thus I consider this play a lottery ticket. As such I urge you to treat it accordingly and not risk more than 0.5% of your assets on a long position. Also, don’t buy calls here as vega crush would strongly affect your option’s premium, and as you may have guessed it, not in a good way.

 


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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  • StockTalker

    WTF was that?? Afraid this market is cooked at this point. Running massive amount of stop orders for the next move. Been short and stopped me out.

  • Darkthirty

    BEEN cooked! The pump was fired up at 4AM, had to pre-empt the crappy reports. 12 ES points in 1 minute is normal…………

  • Darkthirty

    Still in the channel from 4/2

  • Yoda

    makes sense. always been a rally leading to July 4th

  • Yoda

    zero is supportive of the bull move

  • ridingwaves

    it was born to run….ask the bankers ๐Ÿ™‚
    https://www.youtube.com/watch?v=c0dtTrrpLWg

  • Mark Shinnick

    Your model playing out here…

  • ridingwaves

    Be berry careful, July is coming, block bids coming into XLF now….. https://uploads.disquscdn.com/images/65f7e900d8d9fea65faec78b1e3818c02ed0c18b30d0d6046b8ecf237ec7957d.png

  • ridingwaves

    So far so good, think we get slight pullback tomorrow…XLF is lighting up with big green blocks

  • ridingwaves

    BTC sitting on precipice again….looks like a pattern is setting up where they knock it down over the weekends..GTBC is now at 8.55….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BKXtoZERO

    Mole, Thank you for the very clear thoughtful post this AM. It’s the first thing I look at in the morning and you provide a lot of unique context.

  • Mark Shinnick

    There is some interesting setup happening…are you looking?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Mole, thanks for mentioning Vega.
    in a situation like this, a Call is my tempting way to leverage up.
    Thanks for the reminder.

    https://www.investopedia.com/terms/v/vega.asp

  • BKXtoZERO

    what, potential vix crush, mkt rally, oil rally,and “possible” low for gold….. anything else? IYR I am not sure about….. possible short set up, possible continuation. That is what I see… please hip me to what I am missing….. mainly sitting on hands lately.

  • Mark Shinnick

    Well, im tvix since earlier and this is very thin-edged binary area able to go hot very quickly. Also, nearing short miners entry.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I don’t like the Miners, but I’m not seeing enough momentum in these Summer lazy days to drive it lower.

    https://uploads.disquscdn.com/images/5becca3ccde4727d458a5c962f44935cd339e6b343aaef169bbec398b340d114.png
    “it takes just one tweet. either way!”

  • Julie 35 – 25 – 36

    $SPX I am short into close yesterday against yesterday’s high on a closing basis.Pulling back from 21 ema
    JULIE

  • Mark Shinnick

    Yes, zero momo…same indecision while the back ground forces like $ persist.

  • https://evilspeculator.com Sir Mole III

    Hey guys, how’s everyone today?

  • ridingwaves

    tricky day today, still convinced all the rebalancing on indexes is still at play as shorts dig deeper on newly added symbol to grab at better price as longs sell out of opposite….you know the big boys could care less driving it down after their entry as they just overwhelm you with leverage….

    hey, German is out of WC…

  • ridingwaves

    I’m getting ready for July and have been stating https://evilspeculator.com/statistics/?symbol=xlf to take advantage of some nice setups playing out

  • Julie 35 – 25 – 36

    Doing fine chief Thanks for the post
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    You remembered July 4th. I’m impressed.
    Those vitamins must be doing their thing.
    ๐Ÿ˜‰

  • Julie 35 – 25 – 36

    UNG Yes ! SPX Julie not out of the game yet Today’s close will tell
    JULIE

  • Julie 35 – 25 – 36

    SPX Love those dead cat bounces into a declining 21 ema !
    JULIE

  • BKXtoZERO

    Here is a human interest story from old BK relating to trading, life and
    pool. I used to play a LOT of pool in my younger days. I was a good
    player and I could beat most every “good bar team type player” and 99%
    of anyone in a bar. I even made a few people break their sticks after
    losing, BUT…. at the Pool Hall I hung out at and learned from, I was a
    nothing. It was run by a Pro Eddie Sheehan and serious Philly Hustlers
    hung out there all the time playing for big cheese up front on the tight
    shimmed pocket tables. (smaller pockets=harder to make your shots) I
    knew many of them and they would teach me things. Lots of nice guys. So
    kind of like here…. Pro Traders and some non pro folks hanging out too
    trying to be better. There was a pecking order. Each knew who they were
    and where they stood. Each had a style and a specialty game or skill.
    Some imitated others styles or followed them (their trades) Now there
    was this really low level guy that would come in…. he actually had
    some kind of disorder and as Scott would say I think WAS the dumbest
    guy. He had a affinity for bank shots and had this mental idea that he
    was a great player because he could make a lot of bank shots…. (forget
    the other 99% of pool right). Eddie called him “Banking Billy”. One
    day the guy comes in with a lunch bag full of jewlery and wants to play
    Eddie for the “Big Cheese” up on the front table in front of everyone.
    The guy is obviously a “nothing” and his way to “be somebody” was to try
    to take out the king in front of everyone on that front table where the
    good players played. So Eddie looks at the jewelery bag,…. he knows
    it’s a bunch of fake crap…. but he plays Bankin’ Billy for hundreds
    (if he loses) against this fake jewelery. So Eddie just ripped him up.
    He walked around the table pounding shots in saying COMMON BANKIN
    BILLY!! and egging him on. Billy would get his one or two chances, and
    fuck up…. Eddie ripped out his heart and showed it to him before he
    died in front of everyone. He was totally cruel to him during the
    process. Billy never came back. Anyway, yesterday when I beat Mole’s
    Vixen system with let’s call it a lucky bank shot. then was dumb enough
    to want to try a competition against his system made with a Quant from
    Chicago LOL…..
    I was at work, concentrating on work and realized the futility of
    thinking I could trade VIX and work full time, then trade it for fun,
    while working LOL. Mole’s machine, with years of back testing is going
    to be plugging away day after day by itself!

    I was then reminded of old Bankin’ Billy. And this forum reminded me of
    the Pool Hall, the skill guys, the pecking order, the discipline and
    knowledge of the game etc. Maybe like Bankin’ Billy, I had my one
    dimensional toolbox and an idea that I was better than I was. So,
    interesting story and I HOPE I AM NOT BANKIN’ BILLY! My account is
    still right near all time highs. I am trading less and only when I see a
    set up that I really like. BK

  • Ronebadger

    Was there just a disturbance in The Force? Tick just went to -1400

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    *now* your understand the funny, but sometimes ironically true.

    Better lucky than good
    -GG

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    +1 for somebody watching the Tick.

  • Julie 35 – 25 – 36

    Hi Ronebadger Contemplating a long BAC yesterday Must have a bullish close above it’s 5 ema. So far no cigar Watching CAT and BA at critical support levels and again neither a close so far above their 5 ema’s
    JULIE

  • Julie 35 – 25 – 36

    UNG Can’t keep a good Natty Gas down !
    JULIE

  • https://evilspeculator.com Sir Mole III
  • Ronebadger

    OK, just went to -1700

  • Julie 35 – 25 – 36

    BK Have you ever heard of Fly Boy ? A Portland pool shark who beat Minnesota Fats and many others. years ago
    JULIE

  • BKXtoZERO

    daily candle now forming is right in the middle of it’s range at the moment. Nothing screams to me, you guys no doubt see finer things, sitting on hands. Tough MKT at the moment.

  • https://evilspeculator.com Sir Mole III

    Tough market all year – look at the daily panel, it’s a fucking nightmare. I feel like closing down the blog and coming back in September!

  • BKXtoZERO

    no but so many funny names… a guy called “Cornflakes”, California Jack etc…. There is a good book called “Off the Rails” about that slice of life.

  • BKXtoZERO

    Glad to be on the same page as someone smart!

  • ridingwaves

    Greece perhaps. I liked this little place on Crete….parking tough, right in Chania old town….I could hang here and in surrounding little haunts for 2 months….week here, then another place etc….great beaches on the island, prettiest of all I saw over there…
    https://www.bozzali.gr/

  • Julie 35 – 25 – 36

    Update on GVIP “Hedgies” As stated remain short until a bullish close above it’s daily 8 ema. Love it ! https://uploads.disquscdn.com/images/c4908bd140dd1464808616cffcb8fcec5cce08277bcaeefa91d79aae2b6dec12.png

  • Mark Shinnick

    That FEEEELING is exactly why you must not. Excellent indicator, in my own experience.

  • Mark Shinnick

    Something like that occured to me earlier….this group is a very good one.

  • BKXtoZERO

    One other lesson that came to mind yesterday was that a great player named Eddie Carr once told me: “You are not going to learn to be a better player playing for nothing”, “You have to play for money and start with just enough so that it hurts when you lose”. He was right about that. In imaginary trading, why would I care as much about a better entry, or sweat the exit etc….. I took a shot on him in a game of one pocket that was risky and left him wide open. For more money, the right thing to do was safe him, stick him to the backside of the pile. Lots of good lessons from those guys.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    good to hear. I thought it was just me.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    it’s a STALL alrighty.

  • https://evilspeculator.com Sir Mole III

    Damn! Shit got ugly in a hurry!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    where!? what!? (just got out of meeting, and about to hit another.)

  • ridingwaves

    right around the time of the 5 yr auction, I wonder if this could happen again tomorrow on 7 yr?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ..whoa, that’s a big daily Tee-pee.

    https://finviz.com/futures_charts.ashx?t=ES&p=m5

  • https://evilspeculator.com Sir Mole III

    ES dipped to 2715 – you should have the Zero on speed dial!

  • https://evilspeculator.com Sir Mole III

    Yeah, that’s what I thought a month ago – LOL

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    NAZ leading down -0.96%

  • https://evilspeculator.com Sir Mole III

    Who are you talking about?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    unlike Julie, I don’t think my Boss would approve.
    ;-(

  • Julie 35 – 25 – 36

    Chief A market like this we only get better. A bull market that we have had for years anyone can make money.A market like this sharpens our skills and separates the Men from the Boys.
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ..suck wind Intel.
    http://stockcharts.com/h-sc/ui?s=INTC&p=D&yr=0&mn=11&dy=0&id=p75724613960

    I’ll be out for a while.
    c’ya after lunch.

  • ridingwaves

    dollar jolt….5 yr auction just took place, the 7 yr tomorrow. Friday might provide better read on direction….I’m bullish, so fade it ๐Ÿ™‚

  • BKXtoZERO

    Might be a long signal right now if TVIX stays under high of day right here 58.35 secondary weaker peak, maybe long equities signal?

  • Ronebadger

    Emotions are MY enemy

  • Mark Shinnick

    Agreed, has often been a good trade. Allway the saying “More often than not, but not always”. ๐Ÿ™‚ This is an especially messy situation, cross-market. A lot of people are recoiling…getting frozen into inaction. Mole’s expression is a excellent indicator of that, in my perception.

  • Julie 35 – 25 – 36
  • ridingwaves

    but as it stands, this will be first weekly candle close under the 50 sma for XLF since
    hold for it

    June 27 2016

  • Julie 35 – 25 – 36

    Mark If they can’t shake you out they will wear you out. Throw emotions aside and have patience. I do not run scared .. plan the trade and trade the plan. A market like this you must have a plan and strict money management and you will be fine
    JULIE

  • Mark Shinnick

    Very appropriate thinking. “Keep it frosty”.

  • ridingwaves
  • Julie 35 – 25 – 36

    RW No way scared. At one time I worked for Columbia Sportswear testing shark bite resistant clothing LOL !
    JULIE

  • Julie 35 – 25 – 36

    RW Not long the Banks i.e. BAC yet. Needs a bullish close above it’s 5 ema confirmed by a trend line break CCI (20) JULIE https://uploads.disquscdn.com/images/b218c42c114a290d88c1372f6cd460ce9bc4bcb56c0aceb845c007c4e687aa9c.png

  • HD

    was there news? I’d definitely have the fibs on your SPX chart. cheap long
    & VIX rally 9%….
    https://uploads.disquscdn.com/images/1af96d203e856902fd37994e852b1e344fa2511fa877f1da99e790080a70a5d6.png

  • ridingwaves

    no need to start until maybe late friday or Monday…I’m going to take a position on XLF for july. I’m hoping this candle mentioned below on weekly is the shake out to go long….its currently on 12 day losing streak….I’m patient for this entry

  • Julie 35 – 25 – 36

    Excellent RW You have a plan and patience. BTW Great call on oil
    JULIE

  • Mark Shinnick

    Its cool you put up this sort of chart, thanks.

  • ridingwaves

    lots of scenarios could still play out, heck maybe they do finally just break that line on XLF also and send it lower…July is good month for stocks, usually

  • BKXtoZERO

    I play TVIX all the time and I AM FROZEN

  • Julie 35 – 25 – 36

    RW BAC oversold weekly and daily. Also BAC at weekly 55 ema and a support zone on the weekly chart. Like you patience and must close above parameters in daily chart above. I like BAC as it mirrors the Banking Index ($BKX) to a “T”
    JULIE

  • ridingwaves

    Pretty weird coincidence its the exact date as last candle below 50sma
    https://uploads.disquscdn.com/images/7f18669bc90bbb27c7713a8e2074e3b68397fc89c8456e6e2fc0a1d35a074020.png

  • Mark Shinnick

    Well, if its a frozen into inaction thing but your indications are there, take a far smaller position. That way if you were correct you have less to beat yourself up for.

  • Julie 35 – 25 – 36
  • ridingwaves

    can’t wait for July, definitely getting close to buy, not touching anything until monday morning…this will be one I add too

  • Yoda

    signal kinda look +divergent up to now. scare the kids thingy or a bigger drop is afoot? should find out soon…

  • BKXtoZERO

    YOU

  • Julie 35 – 25 – 36

    RW IMO an impulse down … Be careful … Actually I am going to look for a shorter high on a bounce to short. It could go down to approx 53 as there is open air down to 53. Quite often a stock will return to it’s breakout point on a decline which is 53
    JULIE

  • Mark Shinnick

    BTW, given 10-handle phenomena and eating-away at 270, I’ve got support around 260.

  • HD

    well the moment of truth is here,,, 50% is trading.

  • Julie 35 – 25 – 36
  • ridingwaves

    not going to happen…too much support here, maybe 59ish is possible

  • ridingwaves

    3:12pm Dow Jones Utility Average rallies toward 10th-straight gain, longest streak in nearly 12 years

    ummm streaming news guys are checking out the ladies at embarcadero……get back to your jobs…

  • Yoda

    (potential) nice long entry we have here…
    as per current 5min zero +div

  • Julie 35 – 25 – 36

    May nibble long the Miners. Oversold Bullish falling wedge and 61.8% retracement. Positive divergences RSI and CCI JULIE https://uploads.disquscdn.com/images/b0cb877e8c83c646c0e3cce8d13441d5752db26fd803717bf04ce2d9871e0363.png

  • BKXtoZERO

    Silver may be a spike low here that I have been waiting for an entry on, long USLV in a larger way now at 9.0. Each time it poked out of 2.0 Bollingers in the past have been the charm for a rally. I think I found my Thrill on Blueberry Hill today. https://uploads.disquscdn.com/images/b1861d6c9d652be7340e4c3616a0df9812569778ca7a627ec8c4d00152c9fe17.jpg

  • BKXtoZERO

    I like it so much I just UP Voted myself LOL

  • Julie 35 – 25 – 36

    SPX Today’s failure at the declining 21 ema is not Bullish by any means. A very very bearish development
    JULIE

  • Mark Shinnick

    LOL, well…I think our problems will become liquidity. Maybe not so good for PM.

  • BKXtoZERO

    That was the case in 08 when I bought at 8 to 10. Hope not this time.

  • HD

    4th of July? 09 a low, 10 a low, 11 a high, 12 rally, 13 rally, 14 rally, 15 a low, 16 rally, 17 a low, 18 –

  • Julie 35 – 25 – 36

    HD I have 2667 target SPX which would correspond closely with your July 4 scenario
    JULIE

  • Julie 35 – 25 – 36

    HD I believe July 7 was the low of the Great Depression
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie 35 – 25 – 36

    July 7 1933 ? ?
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    must be one of those LEAPS or something.

    “In finance, LEAPS (an acronym for Long Term Equity Anticipation Security) are options of longer terms than other more common options. LEAPS are available on approximately 2500 equities and 20 indexes. As with traditional short term options, LEAPS are available in two forms, calls and puts.”

  • Julie 35 – 25 – 36

    DOW lost 89% Unreal Huh ! Real Estate 90%
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I gotta run. would love to see the close.

    Time Check traders.

  • Julie 35 – 25 – 36

    Me too GG Have A Great rest of day Everyone have a great rest of day !
    JULIE

  • Mark Shinnick

    Yes, nice sell point today. The cracking is on the wall.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Oh how I hate missing the close on a day like this.

    My barometer still working! ..and a little help from Mole.

    [BPSPX]
    http://stockcharts.com/h-sc/ui?s=%24BPSPX&p=D&yr=0&mn=6&dy=0&id=p02855803153

  • Darkthirty

    Line chart doesn’t show the down tails. Shows we’ve already penetrated the lower line, gotta watch for the retest on the 2 wave……then it’s on

  • Ronebadger

    So…how’d that go? A shark can bite through pretty much everything…depending on the shark.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Did you know there was a Depression before 1900? look it up.

    https://i.huffpost.com/gen/1432903/original.jpg

    The Panic of 1893 was a serious economic depression in the United States that began in that year.[1] Similar to the Panic of 1873, this panic was marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures.

  • Ronebadger

    Back to VIX Step 1 signal

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I’m seeing a correlation.
    Every time you call out the steps, you jinx it
    ๐Ÿ˜‰

  • BKXtoZERO

    Only missed by a little……

  • BKXtoZERO

    Damn day job….

  • https://evilspeculator.com Sir Mole III

    Actually that photo is from 1929. They didn’t have automobiles like these in 1893 yet.

  • https://evilspeculator.com Sir Mole III

    And if I am not mistaken in 1873 they actually hung a few of the banksters from lamp posts. You won’t find much information about it though online, if anyone can dig up a reference I’d appreciate it.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    INTC.
    Julie called out 48.50.
    I don’t think anyone is following us, but just for a Crazy Ivan.
    Beginners should short cover or have a tight trailing stop.
    RSI 27 daily is rare, very rare.

    You pros know what you’re doing.

    http://stockcharts.com/h-sc/ui?s=INTC&p=D&yr=0&mn=6&dy=0&id=p73424595401
    -GG

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    but my favorite:

    Capt. Vasili Borodin: I will live in Montana. And I will marry a round American woman and raise rabbits, and she will cook them for me. And I will have a pickup truck… maybe even a “recreational vehicle.” And drive from state to state. Do they let you do that?

    Captain Ramius: I suppose.

    Capt. Vasili Borodin: No papers?

    Captain Ramius: No papers, state to state.

    Capt. Vasili Borodin: Well then, in winter I will live in… Arizona. Actually, I think I will need two wives.

    Captain Ramius: Oh, at least.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    If there is an overnight scare.
    Julie, watch for 2666.
    I predict you will be drawing some massive triangle by then.
    Maybe you *already* have.
    ๐Ÿ˜‰

    https://uploads.disquscdn.com/images/aa30686813aa1464a4dd2e76d11dcc33275d8d3e37dffaff249c85af32201198.png

    Full Moon Tonight – (Howwwwwwl)

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    GOLD,
    continues to spank.
    The envelope in the chart while usually support, resisted! (Z, right panel)

    It’s very simple. look for a reverse into the envelope, A or B.
    until then, tell Hope to take-a-hike.
    -GG

    https://uploads.disquscdn.com/images/30f1b0805147d887ef99096044bb8d5ef470078d9f7db7a809969d29dab85b9e.png
    ps. Keep an eye on the USD/JPY too.

  • Julie 35 – 25 – 36

    Hi GG We are on the same page 2667 is my initial target
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I admit, I suck at Forex.
    but I’m watching you girl.

    https://uploads.disquscdn.com/images/ea82a5f7455cb5b6198aa131424b43770cba5b8b10d4761ea1275ef66a382d53.png
    My child has taken two years of Japanese language study, so no wise cracks.
    ๐Ÿ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    /YM,
    interesting how the RSI which was once support, is now a ceiling.

    https://uploads.disquscdn.com/images/3a7aea4eff4f9951f4b7e938f6e0d4aa854d673472236c5da016065774220601.png

  • BKXtoZERO

    good stuff gerb

  • http://www.captainboom.com/ captainboom

    Saturn was in opposition last night. Just below and to the right of the moon from where I was. Got a chance to view it with a good pair of binoculars. Worth taking a look at both Saturn and Jupiter tonight, as you can also see the Galilean moons with good binoculars.

    https://www.skyandtelescope.com/observing/sky-at-a-glance/this-weeks-sky-at-a-glance-june-22-30/