I sat on the sidelines today with popcorn in hand. It’s Lundi Gras down here in N’awlins, and my trading has come to a standstill.
The bears had a chance to make this Monday that of the “black” variety, but couldn’t seal the deal late in the day. Watching today’s action was very reminiscent of 2008 when all hell broke loose. Watching $CHK trade down to a $1 handle, watching the banks get poleaxed intraday, I was surprised to see such a sharp rally near the bell.
We all know the best rallies happen in bear markets. Will today’s late day move stick? Doubtful. We have yet to see full blown panic with a breakout “parabolic” move in the vix. We were close today, but didn’t get it.
I will continue to tread light here.
If you enjoy the content at iBankCoin, please follow us on Twitter
Indeud. Hope you’re enjoying the festivities broseph.
Neighbors kid knocked on the door at 10a after I got off a 72hr night shift rotation last week wanting to play with my kids (who were at school). Apparently, LA kids get off for Mardi Gras for a week?!?
All things considered I love it down here south of the Mason-Dixon after being in Indy for several years. Kids too. LOVE IT!
RC – it shure looks like a good time https://www.instagram.com/p/BBdnGrbLH2b/
Haha, got to love it.