Usual 0.50 stop is not hit yet, but it is close.
VIX is at levels indicative of a MAJOR MARKET BOTTOM with the spike over 42 last week and today's retest of that on the rally to 37. VIX had fallen as low as 28.
The DIA is coming back up in price to a price level where there are 5 hours of trading so far today and it should be a stopping area at least. We shall see.
Put/Call shows there is activity on the call side of the market, which is bearish, of course, especially when VIX is rising like it is today. It shows people are getting aggressive to buy this break in price. I'd prefer to see activity in puts to show people are putting on hedges and driving up the price of those hedges, but that is not the case. This is bearish activity here, despite the high overall level of VIX.
Keep in mind these trades have a short term life, only 1-3 hours, just due to the volatility in the ratios that come across my screen.
Be well. DIA @ 109.96 as I type. It had gone as high as 110.30.
Stop is 110.45
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