Friday, March 25, 2011

Friday 3/25 Update - VIX Ribbon Confirms Move LONG

(as I slurp my coffee, still attempting to wake up ...)

In my review of my indicators this morning, I note that the VIX Ribbon indicator that I have been using to confirm moves definitely shows that a move to the LONG side occurred with the close of markets on WEDNESDAY, MARCH 23rd.

Here's the chart; click on the chart to launch in a new window or tab:

The closure of the VIX below the lowest EMA, the series which comprise a ribbon, has provided a good indicator of when we should be moving back into the long side.

Based upon this, I will close all contra positions for a loss today.