Monday 10 November 2014

11am update - VIX melting lower

Whilst equities see micro chop, there is notable weakness in the VIX, -4% in the mid 12s. Mr Market is right back into 100% complacency mode.. as trading volume drops to typical 'holiday' levels. Metals remain very weak, Gold -$10.


VIX'daily3


Summary

Little to add right now, on what is one of the dullest Monday opens in some months.
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Meanwhile..the stock that isn't really a stock... BABA, continues to climb... now up 41% since the mid Oct' turn.



Regardless of the shady 'Cayman based' issue... at least it makes a profit.. unlike AMZN.. or much of the other momo nonsense.
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10.59am...a micro spike... with new historic highs in the Trans. Dow, and sp'500. Overall though, it remains very tedious.

Considering the only data of note is retail sales... not until Friday, most should probably turn off their screens and come back next week. 


11.38am.. USD turns positive.... pressuring commodities....

Gold -$15.... miners in real trouble again.. GDX -5.3%...

Oil swings sharply lower... from +1... -1%.