Market Pressured but not Broke

The pressure was on early but eased with the market retracing about 50 percent of the midday pullback. Not every asset class was pressured to the downside. Volatility finished the day right at $21 on the $VIX, which gave me an opportunity to unwind about 25 percent of my volatility exposure.

With this rebalance I will now look to put some cash to work if I see the markets firm up at these levels.  Take an opportunity today to run the Trade Idea Tool with a the short-term scale at 9, and long-term at 10. This is a good opportunity to beef up your prospect list. I would look to deploy 25 percent of available cash in these names if we firm up at these levels.

Joe Cusick from TradingBlock and I are doing a webinar on how to build a portfolio using options and high quality names from Tradespoon. Be sure not to miss this educational opportunity.

See you next time at the Corner!