I am returning to my original hypothesis that we're going to see a strong rally which, in the end, will represent a superb shorting opportunity. Looking at both the Fibonacci fans and retracements, this seems like a good entry point for a bullish play on the $NDX.
Given that, I have gone "all in" on my IRA account into QLD, which I think could easily move 25% higher from current levels.
Obviously I closed out my Russell put position first thing this morning. I imagine the House will pass the bill, the markets will finally surge, the VIX will get more reasonable, and we can be bears again. Until then, I'm going to wait.
