The volatility ETF’s are getting worked over again, with some of them not even borrow-able here for a short.
Google reports after the bell, as does Chipotle, which should give some insight as to whether the Nasdaq has another leg higher in store. Then again, maybe momentum money will just keep rotating to NQ RSOL and other assorted drugs of choice.
Treasuries are also rallying sharply, and that rate sensitive stocks are finally responding, namely the REITs and the Utes, seen below. Watch those patterns highlighted on their daily ETF charts to see if they regain their footing for a true leg higher.
I sold half of my NUGT long inside 12631 from my $41 entry, looking to add back and trade around the position.
See you in my video market recap after the bell…
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SVXY has been a proven winner on any volatility spikes.
Nice one
It’s basically shorting VXX, which is an broken an investment product as there is.
$VXX puts have been on fire