Sunday, September 13, 2009

Time For Another Breather



Indexes look set to take a little breather after the big run they had last week. I am playing index weakness by playing VXX long. VXX is an ETF that mimics the VIX or increase in volatility. We went long VXX late friday afternoon for a trade into monday.

2 comments:

Shawn said...

Stewie, so your targeted VXX exit price is EMA 20? Thanks

Stewie said...

hi shawn: VXX we bot at 52.75 and sold it at 53.2. it wasn;t a very impressive selloff, so we bailed on it. I honestly thought i could get $2 out of it when i saw the futures this morning. Market is very resilient! gotta respect it.

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