There has been a lot of fooling around with the VIX this week as we saw early in the week and now again, this is the asset of choice rather than all of the momentum stocks, I imagine it's a lot cheaper to move 1 asset than to move the market with a number of momentum assets.
The P/L on this position isn't great, I'm really more happy just to be out of it without taking any losses.
At a cost basis of $1.22 and a fill of $1.36, the P/L is a gain of +11.5%
The intraday charts were looking troublesome earlier, this is worse, I tried to take advantage of a little positive divegrence to sell in to a little strength.
The migration of the divergence is clear at the 2 min chart and this fits with everything else we are seeing today.
The "Reversal Process" in the asset, note how bottoms are larger here than tops, but they are still both rounding as a process and not a "V" shaped event.
The 25 min leading positive has a recent relative negative which is what is being seen intraday making its way to this longer term chart.
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