I was waiting for us to hit -3%, -4%, -5% but the market rallied mid day until the end of the day where it got back to where it started. GG on my puts.
I will never forget Volmaggeton, the slow grind up followed by big dumps. We’re just getting started, I’m sure the market is use to +2% or -2% swings by now.
Not all sell offs are the same, in a broad sell off the question is where is the $ going? Looks like it was mainly a flight into the 10 year (+3.68%).
Vix is just a measurement of volatility. It’s directionless, formulaically. Said another way, you can have a high Vix in an uptrend, and a low Vix in a downtrend. Fear doesn’t typically happen in an orderly fashion, but these sell offs have been extremely orderly. Sure it’s strange. More fear may come into the market. It may not. No rush to guess what will happen. The market will tell you if you have the patience.
Because the CPI has been coming out every month for years. It was not a surprise, people had an opportunity to prepare for the report. Low VIX just means that it's not any kind of capitulation. I could have told you it was going to be shit just from my trip to Costco yesterday. I have not watched any TV over the past week and rarely do, but I'm willing to bet there were at least a few talking heads on CNBC saying something along the lines of "it's priced in", "this is peak inflation", and "buying opportunity". Am I wrong?
No, they were saying on Bloomberg that the CPI was not too bad if we exclude, the portion for gas and food. Can you believe that BS? So, they now want to skew even the CPI to back their rosy comments?
Oh, so you were there in 2000? Raping eternal bulls who thought "it's different this time" was the best of times.
as long as the eternal bulls were dollar cost averaging indices, and had a horizon of 20 years, they were paid $$$, especially QQQ