Not a bad call last night saying VIX to 42 on a market that goes up 2%. I am waiting for PCR numbers. But if everyone is playing their roll correctly, we are set for a likely slide in the market. TA has been saying we should have gone down these last two days to the 750 mark. But that does not match market sentiment. now that we are above 805 again, I think the EW guys may need to do a recount. And I would be very interested in those results.
Tomorrow is setup to be very interesting. At 811, the market really should gap up. If so, I think that is time to pull the trigger and take profits on the long side and enter short positions (if you haven't already done so). But, I do want to wait for PCR data and to see confirmation in the morning.
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Thanks for yesterday's post! I did not go bear hunting this morning thanks to you!
ReplyDeleteThanks for the information. I am still holding on to my SKF at an average cost of 129 but have been thinking about writing cover calls so i will wait since the bears may wake up now...
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