My lottery long position got stopped out this morning and before deciding my next course of action, or perhaps lack thereof, I thought it best to consult my momo charts, in an attempt to gain a clearer perspective devoid of the daily noise. Unfortunately however this effectively has accomplished the exact opposite as I walked away even more conflicted than before.
As the year is slowly winding down I’ve been doing a bit of personal introspection as part of taking stock of what I managed to accomplish as well as identifying areas where I could be doing better. Not to pad my own shoulder but given the hellish mess we’ve been through this year I think we’ve all done exceedingly well, and thus should be proud. But alas it has come at a psychological toll to many of us, and at least to me personally.
Santa checked his stock portfolio yesterday and finally decided that he was done playing nice. Waved his magic wand, which strangely enough looks a bit like a switchblade from certain angles, and poofff – we suddenly got a VIX Buy Signal on the roster. Which is exactly what I was waiting for and represents one of the reasons why I took out a lottery long just before the EOS yesterday. Thank you Santa!
Equity speculators dipped their toe into the icy dark waters extending below them and then quickly decided to run back into the house to grab a warm blanket and a hot cup of Glühwein. Now the bounce itself wasn’t much of a surprise to me and the question mainly revolved around the timing. Reason being that early in the session a well connected bird messaged me that VIXY had suddenly become difficult to borrow for large spec traders, which rarely if ever happens.