I’ve been enjoying watching the futures burn in the overnight session, so much so I’ve decided to forgo sleep. With the Nasdaq down a cool 100 points, I’m hoping panic continues into Wednesday session. We need some real panic with an elevated VIX to get things going on the long side. This slow motion crash is getting old.
Get your bids ready.
Expect continued bleeding until next week’s fed meeting when they announce QE. Then it’s gold time.
Probably right.
No first it’s back to ZIRP.
RC, I’m starting to see the VIX futures curve slowly move out of backwardation and into contango. We’re still in backwardation mode, but when we have these 10%-%15 VIX moves, combined with a move going back to contango, this to me is a signal of at least some short term relief. Then again, who knows with this slow bleeding market…