Richard Please Save the Dow
If only we could hire Richard Harrow (from HBO's Boardwalk Empire) to execute the idiots responsible for plunging our stocks since last week. In the past four trading sessions the Down Jones has erased 225 points. The S&P has fallen 2.23% since last Friday and its all thanks to negative EU headlines. Volatility has made a triumphant return.
The iPath S&P 500 VIX Short Term Futures TM ETN (VXX) jumped 3.4% and since Tuesday its up more than 11%. Finally the VXX is off its everyday decline and closed today at $9.57 a share. Today the poison flavor was Spain, fear of a Spailout (so elegantly coined by CNBC) brought stocks down a for a 4th consecutive session. Mind you its been headlines and reactions to 'market experts' that the EU can't get their shit together that has dropped stocks like a Richard's moral after Jimmy was whacked. Profit taking along with negative EU media stories has sunk U.S. equities since last week. Could it be all the high frequency trading that has introduced volatility back into the market? The world will never know.
What we do know is that fear has proved time and time again to rule the market. Fear made its way to the dinner table again and with a looming "Fiscal Cliff" is made our thesis Next Year Stocks Could Tank (or Sooner) ring true.
Sorry Masters but the Hip Hop Pool Party for Equities has been brought to a sudden stop. Party's over, everyone out of the pool. The headlines and EU buzz could flip the bullish switch tomorrow then its back to the rally. We wouldn't be surprised to witness that occur given the haircut in stocks we've experienced this week.
That's why we want Richard to come to the rescue and make it all right. The world needs more courageous and righteous people like Richard Harrow. Too bad he's just a fictional character.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- OPEC Praises Production Cuts, Reveals No Penalties For Violators As Deal Skepticism Rises | ZeroHedge
- Pepe Escobar: Here's How The Trump Presidency Will Play Out | ZeroHedge
- America's Real 'Division' (Summarized In 100 Seconds) | ZeroHedge
- The Fake News of Fakebook: Welcome to the Machine | ZeroHedge
- Trump And A New Gold-Backed Dollar | ZeroHedge
- Madonna: "I Have Thought An Awful Lot About Blowing Up The White House" | ZeroHedge
- Chinese, Germans Bidding To Turn Abandoned Nuclear Wasteland Of Chernobyl Into Solar Farm | ZeroHedge
The most relevant financial news and articles from the Internets
- 'Why didn't these people vote?': Trump addresses the... | Business Insider
- The first images from NASA's descent onto Saturn's... | Business Insider
- Hedge funds are making 'extreme' bets on the impact of Trump | Business Insider
- Russia PM: Sanctions will remain in place 'for a long... | Business Insider
- Here's why mortgage rates will stay low | Business Insider
- Sundance vets Elijah Wood... | Business Insider
- NASA just took the closest-ever photo of a 'wavemaker moon' — a rock... | Business Insider