Feels like a Correction is Coming
Submitted by Stockmaster3 on Tue, 02/14/2012 - 19:07
If I read another 'NBA' article, the new acronym that is making the rounds on the internets (Nothing But Apple) I'm going to shoot myself. The iPath S&P 500 VIX Short-Term Futures (VXX) is up 7% today. Mastery is betting we are in for a huge kick to the face.
We feel this way and point to recent articles such as Fear is Back with a Vengeance, Black Swan Stock Picks, Nasdaq 100 Weak Performance, and our reaction to Barron's Dow 15K to 17K call --Pizza the Hut Trading.
Use caution if you have long positions. The majority of the Masters are going cash today, to the tune of 90%.
The only weapon of choice today is the VXX.
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What a Close Today
Submitted by Stockmaster3 on Tue, 02/14/2012 - 22:31.VXX dropped 5% to finish up only 2.95%. Dangerous trading seas. The last 45 minutes we bounced.
Got the perfect pic to sum it up.
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