Trucharts.com - Blog Update - 10/17/2014 AM
Yesterday at the end of day we said the VIX was extended and we expected some type of rebound - in addition to the markets being oversold. We were expecting this and that is what we are seeing today. Excellent day for traders to make money. We were long USO and TUBE into this rally. The Fed and ECB are the key focus and Fed liquidity is what is driving these markets. We would sell into these rallies and take profits. We expect this to last into next week since many major earnings will be out from many bgi names next week. Keep your powder dry and if you are a great trader you can make some money here.
Watch XLNX and the oil sector for a bounce (oil sector was very oversold). Watch for a pullback in the VIX.
Trucharts team
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