Wednesday, March 25, 2015
Another little 3-5% dip imminent?
Transports looked like crap for two days, but finally this morning the QQQ decides to join in on the towel-throwing:
And $VIX is finally popping:
$VIX under 13 seemed dumb to me, but then again, things can always get dumberer.
Anyway, funny nuff, you can't make a cent shorting $VIX with ETFs right now because the front interval apparently has a 10% contango. A fine example of the market screwing the most people.
Speaking of the market being the biggest bitch it can at the most inopportune times, it'll be fun to watch this:
Fun to watch because all QQQ investors got washed out in the early-March correction and have just made it back to where they were. So QQQ should have good support, since it's the second time through that price interval.
Meanwhile, Wall Street Whitey's been thinking he's so damn clever by overweighting R2K these past couple weeks because blah blah US dollar; now that the US dollar chart is reversing, the "market will be the biggest bitch" law suggests that whitey's IWM position is gonna enjoy some intense bum-love for the next few days.