One stock that held up very well today…

Selling pressure could have been a lot worse. Click to enlarge.

I had made a video as timing is very tight tonight and something went technically wrong at Screenr. If it loads I’ll post it later tonight, but essentially it said the following:

  • today was normal after the big run up (markets are down a little more after hours)
  • I like a pullback in Nasdaq to 2635
  • volatility came back today, but I think that trend is down unless the markets don’t like what the Fed has to say and jobs #’s on Wednesday
  • will be looking to short VXX when it closes recent gap on 60 min.
  • glad to be on sidelines as this pullback shakes out.

3 Responses to “2% Decline Right On Schedule”

  1. No Tribe Says:

    Nice call on VXX. I waited, and got in at around 47 short. Then the reversal happened. Would be nice to ride it down to the 20’s. You calling a reversal? COMP overshot your target, then it acted as resistance in the am. Is right back up to 2635 now, see if it pushes through, I think you’d find that bullish.

  2. jeff pierce Says:

    Back on the bear side as of today’s close. Volatility may be about to reenter the markets.

  3. NoTribe Says:

    heh, I dunno, I think I’ll stick with my timing, which went long on Oct 4th. Your technical signals don’t seem to be working well lately. And it looks like, from the futures, that COMP will gap over that resistance point.

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