Friday, February 29, 2008

VIX has tricks for Kids

Fibbonaci doing the trick on the VIX.
Range Bound on the S&P.
The DOW is still hanging on to the triangle.
To quote that great G&R tune, "Where do we go now" The downtrend is still intact, but one must be defensive at the tops and bottoms of channel lines. One could play a very short-term Call and I kinda like the SPY or AAPL here, but a tight stop would be imperative. Otherwise waiting for a better PUT entry prior to the unemployment numbers on Thursday will be the plan next week .

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