I am posting a new intermediate-term trade here based on the weekly technicals and sentiment which I have discussed ad nauseum.
New Trade:
Buy DXD with a market order. 30.48 is blog entry price. Place a GTC sell stop at 28.00 after entry. If anyone still had a buy stop at 29.00 then that's good, you are already in and just use this post for the stop placement.
I will still be looking for a possible short term bullish trade next week if things look right. But the larger picture tells me to take this intermediate term trade.
From Sentimentrader.com....after 2 days in a row where the VIX rises 10%, the 1 and 5 day returns are consistently positive. 14 out of the 16 times it has happened both the 1 and 5 days return were positive. The max risk vs reward was not that positive though, so it could be choppy.
ReplyDeleteAnyway, this may suggest waiting for an up day before taking this trade. Also, it would be reasonable to consider a bullish short-term trade early next week.