I’m a real believer in using the vix to time trades in the market whether from an interday or intraday perspective. On August 8th after a two day rally in the markets the vix had moved down to around 19.65 from an earlier peak around 26. I was somewhat baffled by the rally. I do not think this downdraft is a normal corrective movement in the equity markets. The financials are clearly in trouble. Still, in the early part of the week my short positions were being taken out. I had pretty much violated my discipline for daytrading. I had become strongly biased to the short side and I was [...]
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[Source: The Money Blogs]
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