Working The Tranny Grind

Airlines are being burned up today amid increases in capacity or some other rabble I couldn’t care less about. I actually love when people discuss the whys behind a move, but I rarely over think them.

What I do instead is go to charts I’ve been closely watching. In this instance, I pull up the Nasdaq Transport Index. I can see the dark cloud that formed yesterday was a proper warning, but now I am thinking buy the dip.

We came in hot, but this is bracket low. Buyers have defended this region every time we’ve visited it. You, rather markets, have to convince me this time is different.   If not, back through the grind haus we go:

I was blessed with foresight and sold my $VA position for a small loss yesterday. It was a bit of luck and a bit of overall caution on my part.