If you're short, I'm the sucker going long....: it would be interesting

Tuesday, May 19, 2009

if we started breaking down here.......

Tony said...: I hate to keep harping on VWAP, but it's 91.43 and has been defended twice already.

Low vol, low vix = complacency as you said. On CNBC Pisani did say it was contrary indicator.

XLF below VWAP, most likely to fall here. Pick your favorite bank short. STI.; May 19, 2009 at 2:05 PM
Tony said...: Ugly close. Now the narrative will be that the vix low is the SPY top.

I got net very short at 2pm, covered about half before the close when SPY hit the vwap (again). Now still net short.

Will look at some charts tonight:

STI, BPO, JCP, M; May 19, 2009 at 4:09 PM
Eric said...: not a bad narative. the only thing that bothers me is that there isn't a clear bear flag... or some pattern to hang my hat on...

but maybe that is a good thing.

it fits my one last push to the upside as the dip buyers get crushed.; May 19, 2009 at 4:21 PM