Stocks Fall: Told you So
We've been pushing a large cash position and suggesting you load up on the iPath S&P 500 VIX Short-Term Futures ETN (VXX). The proof can be read in Where's the Volatility?, U.S. Equities: Not Buying it for a Dollar and Feels like a Correction is Coming.
As we said a few weeks ago in the articles listed above:
- The latest patch job has been completed with Greece. You buying it?
- Today's tape feels like the calm before the storm. The only winner today is the VXX. Time to get Cash.
- Use caution if you have long positions. The majority of the Masters are going cash today, to the tune of 90%.
- The only weapon of choice today is the VXX.
Bottom line: Mastery called it. If the jobs report due out later this week is bad expect the trend to continue.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Potential Intraday Runners | iBankCoin.com
- High Yield Corporate Algo Gone Wild | iBankCoin.com
- EXCLUSIVE: Was Ebola Accidentally Released from a Bioweapons Lab In West Africa? | ZeroHedge
- A Furious Albert Edwards Lashes Out At Central Bankers: "Will These Morons Ever Learn?" | ZeroHedge
- Why Amazon Is Crashing: Jeff Bezos' Nightmare Quarters In Charts | ZeroHedge
- Forget "Lower For Longer", The Fed's New Message Is "Sooner But Slower" | ZeroHedge
- Frontrunning: October 24 | ZeroHedge
The most relevant financial news and articles from the Internets
- Ten Things Only Bad Managers Say | BusinessWeek
- Billionaires Are Reportedly Paying $4,000 For A Titanium Toothbrush | Business Insider
- Russia takes bite out of McDonald's with US... | Business Insider
- 8 Reasons This Is An Ideal Résumé For Someone With A Lot Of Work... | Business Insider
- Spanish town hopes for 'Game of Thrones' tourism... | Business Insider
- A Luxury Suite At The 49ers New Stadium Will Cost You Up To $60,000 | Business Insider
- The Guardian's CEO Just Blasted The BBC Over Its ‘... | Business Insider