22 November 2007

Trader's Almanac And The 40+ VIX

I've misplaced my trusty Trader's Almanac. Cannot find it anywhere. I bring this up only to quote from it. I do believe the quote might go something like this...
" If you are of the sort that likes to short the market, the Thanksgiving week, for lack of a better term, is the perfect time to leave for your holiday on Monday afternoon..."
Yet, this time around, volatility and volume are way above norms and I'm finding that my prior thesis of waiting for a bull trap somewhere over the 2100 level will leave me behind the curve...I've placed sell orders a few points under today's lows...1987 to be exact...if I've learned anything in this journey it's that if this level is broken we should, might, could see a quick 80+ drop into the 1900 levels above that August low...should be a good trade...

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