Trade Alert: Adding to these ETF shorts
The DJIA just crossed 20k for the first time ever! Well, I mean the DJIA just fell below 20k for the first ever since it had risen above it last week and everybody was talking about how the 20k level had ushered in a new world of investor optimism.
We were joking about DJIA 40k in last week’s Live Chat. We saw headlines on my favorite snarky sports news site, Deadspin:
The VIX hit levels that it hadn’t seen in years, bull vs bear sentiment is at extremes…
My inclination is to look at adding to some of my shorts here as the bulls/traders/longs finally got overly optimistic and ahead of the markets ability to go straight up.
I’m going to short a small tranche of IBB and EWY this morning, just adding to my hedges, not turning overall bearish on the stock market or anything.
