The S In S&P Stands For...

Tyler Durden's picture

1) Stupid, 2) Serrated, 3) Suicidal, 4) Sycho? We won't even start with the P. After 9 20 points S&P swings in the index in the past two weeks, the quants and the momos are both waving flags of surrender, just in time for the carry traders to be carted off trading desks in body bags. For a market that has no volatility, this is the most volatile market in recent history. No need to discuss how volume performed on today's plunge, which was the biggest in several months as it finally became painfully clear to the market that the IMF and the ECB have nothing up their sleeve when it comes to preventing the Greek spillover from impacting the rest of the PIIGS and then head to the core of the European death star.