I am actually putting my toe in the water on the short side with the Qs.
UPDATE: March 21, 2006 2:00pm
42 and change is definitely a key level technical level, but I am considering several other factors relative to the charts:
1) Relative outperformance of Low Quality Stocks2) Decreasing Breadth
3) Length of bounce
4) Bulls are Everywhere!
Doug Kass notes that new 52 week highs keep fading relative to market highs.
The bounce -- 6 down days in a row followed by 6 up days -- feels tired.
Bulls everywhere comes from Jeff Saut quoting Richard Russell's comments.
I'll have more on the relative outperformance of the junk later tomorrow . . .
UPDATE 2: March 21, 2006 3:40pm
I have no experience trading VIX options (who does? They are brand new), but I decided to buy some May 12.50 calls -- just a smidge, to test out how they trade.
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HEY HEY HEY...... C'mon in!
Posted by: Clayton Bigsby | Mar 21, 2006 1:29:07 PM
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