Friday, October 9, 2009

The TBT long from yesterday works briliantly - maybe a new swing

The TBT long from yesterday has worked for over $2. This is the ultra short long term US treasury. Clearly looks like a trend change in long term bonds after yesterday's auction. If you follow this blog you know I am already short a core position in long term UST's.

A new possible swing today I am looking at is the VXX (currently at $47.35). Basically, an ETF that tracks the VIX ("fear gauge") of the market. Note: this ETF isn't perfect from a tracking perspective and is not a long term hold.

CDC just said swine flu epidemic in the US so volatility could return. However, the market is testing highs after the release?
Posted by The Honest Trader at 11:07 AM

4 comments:

  1. The Honest TraderOctober 9, 2009 at 1:36 PM

    will buy the VXX on a break of 47.6

    ReplyDelete
  2. The Honest TraderOctober 9, 2009 at 2:13 PM

    feels like i should add to my short index plays but will not because the bullishness has been to strong lately

    ReplyDelete
  3. The Honest TraderOctober 9, 2009 at 2:57 PM

    last hour rally again? why not.

    ReplyDelete
  4. The Honest TraderOctober 12, 2009 at 10:18 AM

    never got the VXX Friday but taking a shot here at 46

    ReplyDelete

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