iPath S&P 500 VIX Short-Term Futures ETN (VXX)

[risk on]

Good trade, I was tempted, but have relatively little In calls. I won't take a significant " risk" , equity wise, until I see that 27s gap fill, all be it tiny. The main reason then will be the 8mm lb gorilla of SPY being in the longest sustained overbought range in the past ten years, and probably ever. When that gap does complete, I will start being aggressive , but only with exp dates well out, and corresponding to strikes based on historical gap downs, as yet filled. And frankly theres only one im really staring at, in the 40s. There is another on the ten year monthly chart that has a pre RS adjusted price of apx $800, but they don't quote strikes that high, yet. cause the " big one" , correction wise, is definitely coming, and it's going to Be a monster, for all the major indices. Markets can't get something ( third longest bull run in history) for nothing ( run based barely on tepid growth and earnings and largely on printing currency which was used to buy bonds, which was used to buy equities, ie FAKE)