Browse Symbol Stacks: $RUT: content.screencast.com/use.../RUT12815.jpg

content.screencast.com/use.../RUT12815.jpg

$RUT Hourly Chart 

Starting to get a bit more interesting in bearland, eh? Today's action moved the Russell to a short term sell. It remains on a intermediate sell, would reverse above 1215, and long term buy, would reverse under the Dec lows. 

Of note, today we got a nice backtest of the downtrend line off the highs. Also of note, SPX blew straight through its downtrend. SPX continues to look more bearish than RUT. We're in sell the rips time now. In my opinion, the correct positioning here would be to still be holding long term investments on the long side, but hedged for the near term. My preference is VXX calls. If we get a bounce over the next couple days that turns back lower without taking out the 1194 level on the RUT, then that would be a good spot to put on intermediate term short positions, either 3-4 month puts on the RUT, or straight short positions on IWM. The level to watch on SPX is the 1980 area. Under that, and the bearwonderland opens back up, and I would get aggressively shor

Comments

pipestickspipesticks
beartard 
 
 
 
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1/28/15
dhdwaredhdware
Get ready to come back...... 1/28/15
redvetttesredvetttes
been playing TZA 
at 114.25 you seem to get FED speak 
 
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1/28/15