iPath Series B S&P 500 VIX Short-Term Futures ETNArca
Description
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Well we are just passing through these previous gaps without looking back. At last today, and for now, the fear meter is pointing straight up. If the panic meter starts turning up, watch out. I think people think, hope, some kick the can greece deal will still happen, and with that baked in, and the vxx already shooting up, if they actually don't cut a deal, the fear factor will spread into other small euro nations with similar debt. If and when we cleat this next gap, 22.61 is possible.
Comments
GMOTruths
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If you are long VXX, I would take profit and get out now. VIX has been hovering; up just 2% earlier today, now up for the day 1.8%.
claydoctor
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Thanks, but I do not day trade. This trade will be held at least until wednesday afternoon or as low as 19.45. I want to see the volume and price action of those brave enough to go hold long equity positions in front of the employment report Thursday before the open.
GMOTruths
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It is Wednesday afternoon and price is at 19.35.
claydoctor
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it is 4:08 and the price is 18.75 after hours movement. Watched the last half hour in amazement. I thought with the good adp numbers today, the govt numbers would speak to an earlier rate hike, hurting stocks, increasing vxx, which may still happen, but judging by the close, it may not. So I am wrong then, and we will see what tomorrow brings. In any case, lots of talk about a late sell tomorrow wince not many will want to be long going into the Greek Vote weekend, with the US markets closed for 3 full days. So I did not sell, and having second thoughts, but steady, courage, having faith my thinking will play out in the end of tomorrow.