I thought for sure we’d see centaurs directing trading by the end of the day — after plunging lower by 150. Lo and behold, oil reversed to the upside and stocks, slowly but surely, edged higher.
As I write this, the Nasdaq is still down by 15 — but it could’ve been a lot worse.
The market might’ve avoided a hairy conclusion today, but it’s certainly not out of the woods yet.
Today’s big standouts are lower yields for sovereign bonds and the resumption of the risk off trade.
If you enjoy the content at iBankCoin, please follow us on Twitter
“markets”, not markets…… once that distinction is crystal clear, then this monstrous ramp kapital move off lows makes perfect sense, esp in light of horrendous china data and today’s macro data here at home….. a farce that will end in tears….
A farce to be reckoned with.
vix says market is still fucked.
fcx down 4% today
Is a misleading headline (Although, I, know it is in jest) Government elements or proxies programmed it, the miracle comeback. For the uninitiated.