Slowly scaling into a hedge for this weekend.

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vxx will go back soon to 24 to rebound the next weeks
weakness seems to be entering the market here 1 hour before the close. Final VXX position taken here. Let's see what the weekend brings.

A little hedge feels good here.
Do you have a catalyst in mind to cause the pivot point, or are you just seeing significant support line, as shown. I watch and trade VXX a lot. After Yellen's speech today, rates will stay low for a long time I think now, and any rate increase move at all will be pre announced. So catalyst?
-1 Reply
Barker claydoctor
No catalyst. Does there have to be one?

I am simply hedging my (long) bets over the weekend.

This is a 5 to 7 day hold. I should be fully scaled into a position by the end of the week. My upside target is very conservative at 31/32.
Barker claydoctor
Added a second position here. Still small shares though.
Actually I went in VXX today at the low, and set 33 as my target. Slammed right into the TL support, and bounced nicely, like it knew what it was doing. I have to admit, with a non stock fund like VXX, it is amazing sometimes when it works at these levels and indacators, which has absolutely nothing to do with economic fundamentals. Its a "tell" of the markets of course. And I think others play it also, which is why it reacts to what others are watching.
claydoctor claydoctor
almost pulled the trigger on NUGT today, but did not get my price. GLD and GDX may be my second best choice going into the weekend. Do you trade it?
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