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The Airball Zone


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Guest RiffRaff

Tanks Feed for your charts too, I love your charts, even if I may not like the direction they're pointing, your efforts are greatly appreciated!1 B)

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Bear blood running through the streets, I wasn't here in 1999 but I imagine a mood not unlike this.

 

FWIW it is strange how the VIX is hanging near its HOD?

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I still believe that the SPX is closer to a top but the technicals now show a further push to 940-950 IMO. By covering 50% of my current 200% short position, I anticipate shorting from a higher level while still maintaining exposure to possible weakness at the current 930 resistance level.

 

In any case, several months from now it really won't matter if traders shorted from 950 or from 880, the index is going much lower so now it is just a matter of cost averaging shares downward.

 

I must also admit that purchasing the June 28 QQQ Calls have provided a nice hedge and have made the losses much more BEARable. I plan on utilizing this tactic much more often :D

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