The market has been propped up in one of the best bull runs ever. It looks to be nearing the end. For the very short term we have traced out a bearish rising wedge. Tomorrow should be down.
VIX is nearing its bottom trendline of its bullish falling wedge. The VIX should break out to the top side with 2 days.
BPSPX:CPC 20 ma is rising again. When the 20 crosses the 50ma we will take a large short position. More than likely I will increase my initial position when the 20ma flattens and starts curling down. Currently looking at FEB ATM puts and MAR puts.
Now that I am back in a routine, I will be posting more often and will put up a count.
Wednesday, January 6, 2010
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