Today's TVIX pullback was not unanticipated according to
the model I posted yesterday as well as
here. However, I think this is the pause that refreshes. It has not been totally confirmed as an a-b-c retracement yet but I
just bought TVIX again speculatively with the appropriate stops in place
in case my model proves incorrect. I think the
expected rally is almost over.
If this is correct it suggests that an intraday reversal of some size
will occur and if that happens it will be a very bearish sign, a perfect
setup into what I expect to be a 3rd of 3rd of 1 downdraft.
I might be a few percent too early on TVIX so I've widened my normally fairly tight stops so that I can go do other things without getting stopped out needlessly while not having to worry about a massive loss, unlikely as it is to happen.
"Fear. Fear... and discipline."
--Kurt Russell, "Soldier"
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