Snoozing Bears Are Losing Bears
Long VXX. Short SPX.
Current VIX buy/sell sentiment is eerily similar to March 4th, the top of the relief rally from the first initial drop from ATHs.
Current VIX buy/sell sentiment is eerily similar to March 4th, the top of the relief rally from the first initial drop from ATHs.
Note
Dumped a portion of my VXX calls, most in the money, but even some at a loss. Still have a bundle just in case we're off to the moon with some futures limit downs.Expecting possible lows of VXX at $33, with highs of SPY up to 292; will reload new calls on the way down.
Note
Only true bears will win.--- FACTS ---
PC, bears have capitulated. Shorts are nonexistent.
PCSPX, same level as 3-4 days before gap down on Feb 21/24.
PCC, bears have capitulated. but it's at the same level as one week before the gap down on Feb 24.
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