Looks like the VIX will do what it likes to do on Mondays which is gap up off of a Friday move down. I was suspecting that it may not happen this time but thanks to real information on the future of banks, the market is doing what it should be doing.
If the VIX starts approaching 43 or 44, I think we could see a pretty strong pull back in the market. But look for buying on the dips so I don't see a market slide all day. Bulls still have the upper hand. May be a good day to make some swing trades with good timing.
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What is your opinion about the uptick vote by the SEC later this week?
ReplyDeleteI am not an expert on what will happen with the uptick ruling. What I do think is that it is the governments last bullet. They may just shoot themselves in the foot. The perception will be that the change will be good for financials but the reality is it will have no difference in where the stock and equity values go.
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