Have to keep it short but I just got an alarm. So $COMPX is up against resistance now. I suspect it will bounce down to some degree but whether that is the red path or blue is hard to say at this point. I'm giving primary to red for several reasons which I've no time to explain right now but do not be surprised to see blue happen as well. Of the two, blue is far more dangerous over the long run IMO b/c it could leader to some big gaps down -5 or 7% or more in a single day for the major indices and that would send a shock wave of fear that would not easily be explained away.
Of course, UVXY moves in leveraged opposition to mainly $COMPX...
Monday, February 22, 2016
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