Stocks Fall: Told you So

300 Movie - Cliff

Mastery has been warning you for weeks this was coming. 

We've been pushing a large cash position and suggesting you load up on the iPath S&P 500 VIX Short-Term Futures ETN (VXX). The proof can be read in Where's the Volatility?, U.S. Equities: Not Buying it for a Dollar and Feels like a Correction is Coming.



As we said a few weeks ago in the articles listed above:


- The latest patch job has been completed with Greece.  You buying it?


- Today's tape feels like the calm before the storm.  The only winner today is the VXX.  Time to get Cash.


- 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.


Bottom line: Mastery called it.  If the jobs report due out later this week is bad expect the trend to continue.


VXX



 

I've been following all your posts.  VXX looked dead in the water for so long, good to see it finally responding as it should to a sharp declineNow the question is how far does this correction go?

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