I think this risk on and risk off ETF's are just one giant mean reversion strategy created by Fisher and Gartman. They just bounce up and down above and below the 25.00 level.
These number lines are very important. You do not want to fade them. We rallied for a few days in risk assets but the number lines stayed very negative. That was a good warning.
Strong stock of the day goes to Quon's BMY! up 1% for the day...looks like you'd be better off buying that as a risk off hedge than the ETF!