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When the sky is falling crowd grew large one month ago tomorrow, Premium Members stepped in and bought the inverse fear ETF (XIV) and is was falling off the table and created a bullish wick, highlighted in the chart above.
I shared this idea on Stocktwits and discussed it at my Stocktoberfest workshop. I wanted to update those that were aware of the trade, that members exited the position and took some pocket change gains off the table.
FYI – Harvesting this position/taking pocket change gains is not based upon a macro view of the broad markets. We look at this ETF (XIV) as a play to itself.
We believe that Bulls make money, Bears make money and Pigs turn into “Ball Park Franks!”
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