Here’s what I sent to subscribers:
If VXX opens above yesterday’s low at 32,15
entry SHORT UVXY or TVIX or (VXX) at the market at today’s market open at 9.30 AM EST.
Stop Loss = 30% or (20%) from the entry price.
Take Profit = None.
Money Management: Use only 75% of your equity for this trade.
If at the close VXX is 5% above today’s VXX opening price, leave 66.67% of the equity invested (50% of all the account) untill tomorrow open at 9.30 AM EST, otherwise close everything out at today’s close (4.00 PM EST).
Yesterday VXX made a new all time low. Contrary to expectations, it doesn’t happen so often. I tried to figure out a rare pattern confirming the system short signal and I found that:
-3 closes below opens in a row
-yesterday’s high was below the low of the previous day (this happened 2 times in a row)
-today’s high is below yesterday’s high
This pattern only happened 2 times since VXX inception and both times it was a bearish intraday session for VXX.
This gives a good confirm to The Summit system signal.
Have a good trading,
This was a full down day for vix etps and I got a good gain of 2,85% as I exited a bit earlier.