Closed many shorts thankfully at Tuesday’s open and the remaining few today. If yesterday morning wasn’t oversold, surely today is. No sense in being greedy when the VIX spikes to 30 or so, especially when one is finally positive for the year to date. And the SPY got to beginning of year levels, with some support in the low 125’s from around December. A place where people might make a stand.
So, probably time to pull out the VIX trade again, but on the put side. Notice too that March VIX options expired today, not this coming Friday. And while you marvel at CMG and GMCR, also notice the sell the news on Apple with the new Ipad release. Google is down only 90 points from its high, is Apple just starting?