probably touch that by friday, I will wait for that magic number and start adding in some short ETFs, today I sold SDOW and bought it back towards the close but a lot less shares than I normally do....s$p needs to break 2000, then resistance around 2040 area then who knows where it goes...
Just read that this is the first time since FEBRUARY 2009 that the volatility index spiked above 50 6 years and 6 months ago was the last time the VIX got above 50, that to me is pretty amazing, just shows you how the bulls and the fed have run this market, with little to absolutely no fear what so ever, thats why when you saw the markets falling 400-600 points a day and a 1000+ point swing on the downside on monday morning were all those bulls running for the exits, 6 years of non stop gains and then to see what just happened in the last week caught 99.2% of people off guard, no one was expecting this, thats why 10% corrections and a bear market here and there are HEALTHY for the market, but no, the fed tries to eliminate that from the cycle and when they do you get collapses such as these.....this isnt just a one time event, I hope people don't believe that the next big drop is now years and years away, they are very mistaken by that idea, the bull market is just about ending. Even if it does break to new highs this year or next and we head to 20,000 I don't give it long before the recession comes and markets are back down to multi year lows....for those who believe a market only goes one way will be proven wrong going forward....the fed this time has nothing left to save it and QE 4 will just be the biggest mistake they do during the next collapse.
Ready for some free money tonight, you know the drill it's so easy making free money in the overnight market.