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VIX Hits Multi-Month High
The self-fulfilling desire for risk is finally breaking out, with the VIX rising another 3% today, after an impressive 20%+ move on Friday. Was the VIX in the 20s just an artificially deflated and Fed-(un)sustained baseline? Now that QE is semi-potent and only affects MBS, perhaps the VIX will find its trading range north of 30. Which begs the question: once QE is completely exhausted, and politicians find there is no politically palatable way to push for another stimulus, will we be promptly back to a 60+ VIX?
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so the meme now is cahs on balance sheets - no mention of debt. Any fast way to tally up what the net debt position looks like historically?
Excluding the trillions in off-BS of course.
"self-fulling desire for risk" That is a GEM! I will have to use that.
VIX hits multi-month high and dollar does too in overnight action! Curious comments about perhaps another issue with intraday markets at http://www.marketdatatrader.com/.
Russell 2000 wants to breakdown, down for the day but still has had (5) 1% bounces. Just shred down please........
TWM ;-)
What a joke. Dollar is actually up now but crude hopped 1.30 a barrel. S&P and DOW getting turbo'ed to keep indexes in the Plus zone. A total joke by the PPT
But Robert Prechter told us that the dollar is about to rise in a specfuckintacular rally, no? - and that was in, oh I don't know - September? It's f--king NOVEMBER cryin' out loud! Where the HELL is the goddamn bull markeet in the goddamn dollar? And what was that again? Did I hear "Gold to $600" and "Oil to $10"?...HAHAHAAAAHAHAHAHAHAHAHAHAHAHAAAAA!!! I'm just waiting for the day when the dollar reverses all it's past 100 year's losses and we're able to buy cars for $100... ROTFL!
someone (house of dimon?) trying their fricking hardest to tick (take out the stops) and close SPY above 50 dma.
There was the smell of an unusual bid under the market this afternoon. IYR seems to have been playing an important part. As a side note the melt up in corn and wheat seemed unusual.
Also, I had some market data interruption in IYR. This may be an innocent glitch in my system but the timing occurred right as the IYR and ES shot up... sure, enough I refreshed and all the missing volume was filled back in.
Corn and wheat have actual supply concerns which might be a reason for the "melt up".
isn't it just too wet to harvest? thought that supply will be good, just late? more details please.
Southern Minnesota Northern Iowa may not be able to harvest. Already quite a few farmers talking about writing off the entire harvest as the ground is still to wet to get combine out and there have been 2 hard freezes in the alst 2 weeks. Although with the weather break this week things may change. I would think soybeans are even worse, too much moisture then a freeze can cause the pods to rupture, redering them useless.
Ukraine swine / other disease -
Weather problems are part of the story. The cash soybean pipeline is still tighter than shit and we already have over 50% of 09/10 crop sold to China (record high this early). The other grains are along for the ride. If the dollar rallies and the grains crap out it will be the buy of a lifetime. The dollar will resume its slide and credit for farmers will be very tight. Rogers is just too early with his call... the Spring of 2010 will be very volatile for the grains. Food availability will be a big problem in 3-5 years and the Chinese know it.
This would mark the second day in the row where they've tried to use IYR to ramp up the market.
(for you equity index guys)
!!!!!!!!!!!!!!!HERE COMES THE 3:00 RAMP JOB!!!!!!!!!!!!!!!!!!
freddie mac up + 24%, just shoot me in the Fn head
Freddie Mac is a FFF Stock...
FFF= Free From Fundamentals
Play accordingly
SPX 1030 looks critical, as per Art Cashin's words today from the pit. Tested 2x so far, hopefully will fall below at eod. Nice FAZ day:)
Not a nice FAZ day anymore :(
you think art cashin works in the pit? ahh, ha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha?
No i think he works for CNBC while moonlighting for Discovery
Spare a thought for those of us stuck short Vega... ;(
Im hoping you werent V-short at the beginning of friday either!
Just die already, DIE!! This market is a house of mirrors.
There's been a noticeable volume increase from Oct 20 and that is about where the VIX is has started to pickup... Is the "Intervenipulation" fading?
"Financial markets have stabilized. The S&P stock market volatility index (VIX), often used as a measure of financial market uncertainty, has retreated from the all-time high of almost 81 percent posted on November 20, 2008 and at roughly 25 percent is approaching readings near the 20 percent recorded in late August 2008. Equity markets have turned sharply higher. The S&P500 has risen almost 60 percent from its March 9, 12½-year low and is up nearly 20 percent for the year."
-Statement for the Treasury Borrowing Advisory Committee of the SIFMA, November 2, 2009
My God, this market lunacy continues to surpass all previous stupidity.
Drag the cursor around the picture..
http://www.andyfoulds.co.uk/amusement/economists.htm
Alright, We might as well start now,,, Who are the four guys???
Magnificant bastards, whoever you are, I salute you. Buying up under the shadow of a smoking Krakatoa takes real nerve.
Ron insana "I have been in cash for a week" wow where was the sentiment when he was managing other people's money - rest assured he is sharpening his pencil
The end is near!!
I think the VIX jump was just a bunch of sissy mutual fund managers protecting gains at month end, thus wasting money, buying puts. Goldman will mop up those options before allowing the dollar to rise.
BULLISH VIX AND USD WARNINGS CONTINUE.
MORE:
http://www.zerohedge.com/forum/market-outlook-0