There is a lot of confusion about the VIX’s high today, because I’ve been stating over and over how I’d cover everything between 22 and 23 on the VIX. The VIX peaked at 20.56 today, as shown with this intraday chart:
Take it from me, someone who has many years of experience with data vendors, that errors are common and often go unfixed. The “high” today on the VIX is a phantom. If it was real, it would have achieved my “dot goal” beautifully. But this is an illusion:
I will say, however, that while I am happy with the shorts I still have in place (numbering 117, far down from the peak of 160), I am seeing almost nothing good to short at present prices. In fact, I’m struggling to find a good way to go long certain sectors right now, because a mighty bounce in some sectors (like energy) seems nigh. But let me be picture perfect clear: once we get a bounce, the shorting opportunities are going to be awe-inspiring. I’m impatient, so this is the part that’s hard for me, but the setups are there………..we just need to bounce first!
