Stocks Fall: Told you So
Submitted by theStockMasters... on Tue, 03/06/2012 - 16:50
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We've been pushing a large cash position and suggesting you load up on the iPath S&P 500 VIX Short-Term Futures ETN (VXX). The proof can be read in Where's the Volatility?, U.S. Equities: Not Buying it for a Dollar and Feels like a Correction is Coming.
As we said a few weeks ago in the articles listed above:
- The latest patch job has been completed with Greece. You buying it?
- Today's tape feels like the calm before the storm. The only winner today is the VXX. Time to get Cash.
- Use caution if you have long positions. The majority of the Masters are going cash today, to the tune of 90%.
- The only weapon of choice today is the VXX.
Bottom line: Mastery called it. If the jobs report due out later this week is bad expect the trend to continue.
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Good call
Submitted by Anonymous on Tue, 03/06/2012 - 17:26.I've been following all your posts. VXX looked dead in the water for so long, good to see it finally responding as it should to a sharp declineNow the question is how far does this correction go?