displyn
Short

Bearish if open below 27.88

AMEX:VXX   IPATH S&P 500 VIX SHORT-TERM FUTURES ETN
10 2 0
the hourly chart looks really bearish , need close below the 8ema for the retracement and close below the 21 ema for the bears.
Risky!

Though I admit that I shorted this on the high today.

What is your price target? How do you intend to play the gap at 26.70?
Reply
displyn GMOTruths
Yes, my stop would be above the last daily bar. I think we get a gap fill this week, then I would be gauging the overall market temp. for direction. I think we are going to bounce then continue the selloff. your thoughts? Most indices & stocks are at major support level. This is a tough market we have to be nimble, maybe trade for one to two day trade only.
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