Wednesday, September 24, 2008
This is a pretty weird pattern on an expanding wedge, but stochs are oversold and XLF still hasnt broken out. If it does break out, then we might get a pretty big rally.Regardless lots of conflicting indicators.
VIX is really high. Almost unsustainable at these levels
Tuesday, September 16, 2008
Monday, September 15, 2008
Something looks strange. I was pretty focused on a 30-35 zone for a VIX top but somehow it looks doubtful that will be the case. We are already at 31. So many other indicators say there is room to fall (UYG far from July bottom, SPY hasnt bottomed out of daily stochs) in addition to unresolved issues at AIG, MER, WM are dragging down the market. GS is tanking which as a market leader is a pretty bad sign.
I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...