VIX on the rise?
We tagged the lower band on Friday, always a red flag in a bear market. Today's close put us above the 10 dma (20.49), upper band resistance is at 22.50.
We will keep trading this market by the book, i.e. bear market rules: oversold gets more oversold and overbought gets sold. Only the deeply oversold combined with extremely negative equity option sentiment gets a buy. If the rules get broken, stay out altogether.
This entry was posted
on Monday, August 25, 2008 at 8/25/2008 05:47:00 PM.
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