is Your Bank Safe?
#1 Jun 6, 2010
Is the Perfect storm brewing?
Friday's US equities market strikes me as being highly unusual.
1. S&P 500 followed a perfect straight channel down through out the day.
2. VIX only touched 36.
In other words, there's never any sign of panic or crash, which is quite remarkable when the broad market is down 3-4% across the board; the Dow broke the symbolic 10,000 level, EURUSD broke the symbolic 1.2 level, interbank funding and corporate/muni bond markets have all but dried up, next housing sales are bound to be bad as predicted by the latest mortgage application number, a number of government bond auctions (Brazil, Hungary, Romania, Spain -- almost) have failed, CDS on French sovereign shot up. For the weekend: US bank seizures and Spanish bank mergers/failures, Bilderberg Club to decide on dismantling the Euro, BP (BP) oil washing up Florida beaches, etc
I doubt there's ever been a day like Friday before.
Panic is usually followed by quick reversals. But calculated, organized retreat means gone for good. This is well-controlled retreat. The calm is scary. A perfect storm is brewing.
Add your comments below
|Photos: People seen at Donald Trump rally in Bi... (Jan '16)||May '16||AIPAC owns Trump||4|
|depressing place (Oct '15)||Oct '15||Sota||1|
|Charges filed in Franklin County shooting (Sep '13)||Jul '14||deadmansdaughter||2|
|Review: 33 Roadhouse (Oct '13)||Oct '13||KCBABTEX||1|
|Who do you support for U.S. House in Mississipp... (Oct '10)||Aug '13||joey||27|
|The county where no one's gay (Mar '13)||Mar '13||RalphB||36|
|Mississippi High School Football - Hazlehurst b... (Sep '07)||Apr '10||devin Robinson||4|
Find what you want!
Search Meadville Forum Now
Copyright © 2017 Topix LLC