THE ODDS SAY, THAT THE SP500 WILL BE DOWN 1.5% TOMORROW!!
- Posted by Frank Zorrilla
- on April 27th, 2011
So here we are, the $QQQ up 7 days in a row, and up 7% in those 7 days. The SP500 is up 4.7% in that same time frame. The Bernank fed meeting is over and he did not disappoint, the question is, whether this is a buy the rumor sell the news type event. That we won’t know until a couple of days from now. However, the VIX put to call ratio close above 100% today for the 7th time this year. Historically when the vix put to call ratio closes above 100% it normally brings one down day, and its usually the next day. This year so far it has worked great, take a look:
CLICK TO ENLARGE:
I TOOK A SHORT POSITION IN THE QLD AFTER HOURS BASED ON THIS DATA
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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