Stocks overbought, one more flush upward to start a dip
My short term outlook:
VIX could crash to support early next week and reverse. I expect stocks, SPY to cool down for a few days to a week.
Nothing to bet large on, but I may enter 1 or 2 VXX calls. Total risk maybe $300.
Meanwhile, the pullback should offer a good entry on marijuana stocks or other value stocks. Risk management is paramount in this environment.
Some of what I'm watching:
INTC, MU, CGC, TGODF, NBEV, ACB.
VIX could crash to support early next week and reverse. I expect stocks, SPY to cool down for a few days to a week.
Nothing to bet large on, but I may enter 1 or 2 VXX calls. Total risk maybe $300.
Meanwhile, the pullback should offer a good entry on marijuana stocks or other value stocks. Risk management is paramount in this environment.
Some of what I'm watching:
INTC, MU, CGC, TGODF, NBEV, ACB.