Hi J - the carnage is pretty severe alright. On Naz, 12 up for every 29 down; 52 new his but 124 new los; and roughly 183MM up vs 935MM down vols! And it briefly breached 4,300. The upshot is that there is some support at 4,300 but once that fails, look out below!
In that sense, VARL is holding her own. Still, some hell or hi water, as a good cyberfriend here would say, "ready to head for the hills!" The only thing going for me is that while I am fully invested, I am not extended [no margin call :)] Some of my friends are not so lucky.
I am holding my VARL shares for now, but I am not going to add position unless I see the 3 conditions met.
Btw, I think the MSFT story is just an excuse to let some air out, but sometimes things can get out of control. This is one such potential case.
best, Bosco |
