sp'daily5
vix'daily3
Summary
*VIX is certainly not showing any panic or real concern yet, but underlying volatility is indeed pushing higher..in prep' for September.
The low sp'1620s look unlikely now...along with any hope of the VIX 19s.
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3.03pm... ohh lookie..its the new QE-pomo schedule...
Starting with a big $5bn next Tuesday morning. Regardless of how we open Tuesday...that QE should at least 'concern' all those holding short across the weekend.
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3.15pm.. well, I can't keep up with everything. Why did no one give me a nudge about the Trans/R2K ?
Trans -1%.. R2K -1.4% ...BOTH warning of trouble for the 'headline' indexes.
We have a marginal break on the Tranny...target is 6000
So..a major discrepancy between the two market leaders..and the headline sp/dow/tech.
Hmm..
*as things are..I will hold short, via LONG VIX, across the weekend.
3.37pm..a touch of weakness...and sp'1632, but still. its minor moves
3.48pm...considering an exit...to close out VIX. hmm
3.50pm.. CLOSED VIX -long position. I'm tired, I don't want concern about stupid gap higher on Tuesday.
3.55pm.. bull rats bailing into the close...naturally.
Regardless of the Tuesday open, I'm glad to be out..will start afresh..next month!
back at the close