This is THE tipping point... the Boy can only cry wolf so many times before he gets eaten. It's f*cking OVER. 1475 SPX will not be seen for 3 years, maybe more.
After I made the post below in the other thread, I watched the 24VXX puts. VXX falling, but the put has been losing money. Hype of hype should be sold I guess, but if one wants to go short the hype with puts, I guess one would also be long the hype of the hype. This VXX thing seems to be better for long calls selloffs, long the fear, and the fear of the fear.
I wouldn't worry about any country defaulting, everyone keeps bailing out everyone so there is no need to worry or panic about default, the word default doesn't exist in the vocabulary of those countries that are actually on the verge of defaulting. Every country is getting bailed out, thats how the system works, look how many times BUBBLE ben bernanke has bailed out the stock market HAHAHAHAHAHAHAHAHA
Market Owl said that there are rumors going around that Europe's gonna start their own quantitative easing, which will elevate their markets as well as US. In case you guys haven't noticed, EWG (Germany), EWI (Italy), and EWP (Spain) were all up nicely today.