I am still short on the market and is losing money now.
However, I am also wary of what’s going on with VIX.
VIX is now around $18.31 . The lowest from the chart is $14.27 in April 2011.
In July last year, VIX spike from $14 all the way to $40 within one month.
Greece was supposed to have finalised various agreements since last Friday and ‘legalised’ by this Monday.
That timeline has come and go. There is still no agreement in place. The losses that investors have to take is still not known yet.
If one has not established any Long position yet, I don’t think this is the time to go in.
Judging by the movement of the market, I maintain my view that the market can’t go up further by Feb. Keeping my fingers crossed.