Friday, April 17, 2009

Variations of the Qs/VXN

Here's yesterday's Qs chart on the 1 minute bars with the VXN signal overlay. We got several nice trades out of the crosses that were confirmed by the midpanel technicals. The setups were a mirror image using the either the VIX or RVX and the IWM.
The day before expiration can get squirrely as rollovers and spread adjustments get laid off, but we still got a nice bullish trend trade that took the Qs up to R3 , and later (not shown) to R4. . . at which point I went short the Qs, a position I intend to maintain for a few days as my technical signals are all screaming for at least a short term pullback.
Clueless had this litle nugget yesterday. So, for bluegrass lovers, here's my submission for a free crash course in trading.

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