Just bought some SDS @ $23.25.......
I'll probably need some luck on this one.
Just bought some SDS @ $23.25.......
I'll probably need some luck on this one.
Stepping in front of a freight train, I see.
I think we may be seeing a blow-off top, but I don't know how comfortable I would be about shorting. But I am willing to gamble with some VIX plays (VXX) in case we see some downside, but the market looks good and the downside could be limited.
Good luck!
-- Tom | My Trades
I am basically looking at the Gap up this morning get filled this week. It will be a short duration trade.
I think the market is definitely getting ahead of itself.
I was following VXX today also, but didn't make a trade. What appears to be a good entry point on VXX?
I also think the downside is limited...... maybe S&P @ 1240-1250.
Nice trade so far Gumby!
I'm not sure about VXX - I use it more like a put than a technical trade.
-- Tom | My Trades
Thanks Tom,
I checked this morning after the S&P moved down and the trade was in the money. I put a stop in at $23.46 before the FED released the meeting minutes and SDS was about $23.59. Just checked and the stop hit and the trade went through at $23.461...... so I made a little bit on it.
I could have made a little more if I would have been able to watch it closer.