RE: RE: RE: RE: RE: Faz and TVIXEnjoying the selloff Mani! I think there is a lot more to go, but we are also at a point when we could see mkts take a breather bounce. I'm watching closely here. So far it has been a stair step down.
I did unload TVIX. The reason was that VIX pushed up quite a bit higher than earlier in the morning, but TVIX did not follow and was just pennies higher at the end of the last session. Often in the past that has indicated some type of a bounce/consolidation coming for mkts even if just for a short time. Hit and run a good approach with that - 20% was enough profit for a week, played it safe, and will wait and see. Also I didn't like the odds for a down mkt on the flash crash Anniversary May 6.
On Monday when S&P topped much higher than early April, Financials never made it higher than the early April peak. That was confirmation of a drop coming.
Commodities selloff no surprise to me. I warned about that 2 weeks ago.
SC