On Monday, the Dow fell 100 points at the open. The Dow would fall 270 by day’s end.
On Tuesday, the Fed brought out the bulls, sending the Dow back up 276 points.
Today, we’re down 320 points again on global concerns.
It’s chaos.
While I continue to hold all open positions in the portfolio, I am recommending that you consider selling to close half of the VXX December 33 calls issued this week. If you were able to jump in between $3 and $3.20, you’re up. The calls last traded at $3.80.
Again, sell to close just half.
Ian L. Cooper
Forgotten Profits