In a note yesterday morning to members, we were looking for an oversold rally, and said rally still has yet to materialize in any big way. We still think the S&P will close the week closer to 1300 than to 1250, but that’s a conviction loosely held.
The two biggest questions on our minds for the remainder of the week are:
Will the financials stop dragging everybody down? $BIX, $BKX, XLF all had a good day today, but they…
The market was flat/down today, discouraged by the news that a certain Presidential candidate would, if elected, “veto every single beer.” Just a gaffe, sure, but did you know that if you drink Magic Hat (pictured) then the terrorists will win?
You mean Vermont separatists aren’t terrorists? Whatever. All I know is that they have beards and don’t like Toby Keith. Close enough.
The other Presidential candidate has the power to decimate entire industries, just by being. The…
Our VIX post from yesterday got picked up by two of the deans of options blogging, Adam Warner (shown) and Bill Luby:
The Big Question for the VIX
VIX Jumping the Shark?
VIX and VIX
(and thanks also to Abnormal Returns for the link)
Not much to add in response to all this, except to agree that the increased coverage of this one instrument doesn’t change the fact that it still definitely serves a purpose. When…