Intra-Day Update: Monster VIX
UPDATE 9:56am EDT: Now THAT is a high VIX!
The TOS data provider is having a teeny bit of a data problem today 😉
UPDATE 11:22am EDT: It seems the WSJ now buys into our (and other EW technican’s) count of this secular bear market. Note that they start the count at the 2000 peak. Wow – when did that happen? Are WSJ editors reading our blog? 😉
UPDATE 2:23pm EDT: I used the market rip to load up as the VIX was dropping a bit. Here’s what I’m holding right now: ACE, AMZN, BIDU, CCJ, CNI, FSLR, GILD, GOOG, MA, MON, NKE, POT, PX. Many of those suckers are way overbought – and I got 1/2 of them at the peak. Let’s see how the rest of today unfolds.
UPDATE Closing Bell: Man, that was weird – this rally was running on extremely little volume, but just kept chugging upwards. Almost feels like it had a schedule going – seems fake and driven by institutions. I kept on adding positions on the way up – I don’t buy this one for a second. In particular since the TNX ended on a black marabuzo – the smart money is flowing back into treasuries.