Wednesday, January 21, 2015

Jan 21 - VXX sell signal confirmed

Although VXX is selling off nicely and normally would mean a multi-week sell, the ECB announcement could either reinforce or reverse current activity.  Buying pressure wasn't strong but enough to make VIX move down and lot and lead to moderate gains in the indexes.

Based on the limited sell volume ratios on NYSE on the last 2 downturns, the bigger correction still hasn't occured yet.




No comments:

May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

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...