Over the Fiscal Cliff we Go
The winner these past few days has been the iPath S&P 500 VIX Short Term Futures (VXX), other than that its been a difficult week for equities. Is the worst yet to come?
As we pointed out today in Volatility: It's what's for dinner the VXX has jumped 18% in the past 5 days. We told you to buy into the VXX back last Friday, for those that did congratulations. Now we have to worry about credit agencies downgrading the U.S., and if that happens it will be an instant -10% across the Dow Jones, Nasdaq, and S&P 500. We are entering uncharted territory and its terrible for equities.
GOP members you are going to have to raise taxes. Democrats please be sensible and agree to whatever the GOP is willing to do. Both parties stop embarrassing Americans that voted for you and reconcile your differences before the shit hits the fan.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- As The Middle Class Evaporates, Global Oligarchs Plan Their Escape Form The Impoverished Pleb Masses | ZeroHedge
- The Joyflation Of The Superbowl | ZeroHedge
- What to Look for in the Week Ahead | ZeroHedge
- Goldman On The Myths & Realities Of Russia's Oil Sector | ZeroHedge
- Why Oil Prices Will Be "Lower For Longer" In 3 Simple Charts | ZeroHedge
- Perfect Palo Alto | ZeroHedge
- "Historic" Blizzard To Slam Northeast On Monday Night: Over A Foot Of Snow Expected In New York City | ZeroHedge
The most relevant financial news and articles from the Internets
- Meet The Man Behind Microsoft's Ambitious Vision For The Future Of Computing... | Business Insider
- Vintage Venus strides into Australian Open quarters | Business Insider
- Seeking A Junior Sales Rep At Business Insider | Business Insider
- Book Review: <em>Thinking, Fast and Slow</em> by Daniel Kahneman | BusinessWeek
- New Allegations Of Child Abuse Emerge After Leon Brittan's Death | Business Insider
- Balotelli has Liverpool future - Rodgers | Business Insider
- Former NBA Player Offers Harsh Reality About Kobe Bryant's Season-... | Business Insider