Friday, April 16, 2010

04.16.10 - Financials Hit Hard

Put an overbought market together with options expiry and some juicy news, and this is what we get.  The VIX is higher by plus 22% (VXX +8%... geez) while XLF is down just under four on the Goldman charges.  Maybe a Long XLF/ Short SPY as a trade idea?  Meanwhile, we are coming in fast to my trailing long stop levels.  With internals so negative, it is usually a bad idea to try and catch the falling knife intra-day.

Never Investment Advice

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