Wednesday, March 21, 2007

Event Fade Trade

I dumped my 250 QLD Ultra QQQ shares at $83.62 just before the close.

My thinking is that the market spiked today ostensibly on the Fed release. This is a big event, and we can expect the market to reverse over the next three days, as per the findings in Ben Warwick's book Event Trading. By the way, has anyone heard of this guy lately?

Note the drop in VIX - it is now down to 12.12, showing how volatile volatility is.

Post note added: ENCY sold at $2.79 and TWX sold at $19.35.

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