Nice day, especially the early fake out and subsequent rally.
Here’s the point.
We’re still at the maximum level of overhead resistance, predicated upon the price memory that was endured several months ago.
Because of this, I am hesitant to be very long, and I have a TZA hedge. Overall, the market is fine and not in any imminent danger of breaking down. This TZA position of mine is an anticipatory trade and low conviction.
Have a great weekend.
Top picks: CHK, NTLA
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Went mildly short and sold longs during that fake out. Have a knot on my head to show for it.
I’m not expecting a breakdown, just an opportunity for profit in the next few weeks.
+22% YTD……..Fully invested.
Cash is trash
Very good.
That’s it?
We’re gonna crash mid March 5-7% bet me on this.
no need to bet you, just place our bets at the cme, good luck to ya
That’s where I place my bets, but, right now the vix is behaving and the vix futures are not flat or inverted.
See the vix futures curve here, http://vixcentral.com
When this curve goes flat or inverted (it was inverted during the Dec selloff), we are in trouble. I think they call this “contango” which sounds like the Italian word for something two adults do alone, but it isn’t.