The VIX has been printing single digits now. 9.84 at the time of this writing. Continuously embarrassing those who have been predicting a market collapse because their weekly “RSI indicator” keeps clanging “overbought”. Of course, that would necessitate that they understand in strong markets their “RSI indicator” is about as useless as a waterproof tea-bag.
Throw out all of your useless technical indicators. A VIX print of 9.84 now, means you should have been buying strong names 7 months ago. Unless you have a time-machine, or an iron-clad long-flat process, this means you’re all pretty well out of luck in the here-and-now.
We still have that Target (TGT) long we mentioned some time ago in our long / short book. As well as our long PGX position that we’ve had from the beginning of the year; with it’s gorgeous dividend payment. In actuality though, with the indices moving higher and higher, our long-short book holds a majority cash position.
In in another separate process? We are balls to the wall long on QQQ.
Do not think we are in any way bragging.
I said … we are massively long QQQ in that process.
Have you seen a chart of the Q’s lately?
4 Hour Chart
That chart is reminiscent of Silver in 2010. I’m not bragging.