Today was a 'risk off' day, and the safe havens were scorned in favor of riskier red meat, namely stocks.
The meme on the desks was that the markets had priced in a disorderly Greek default, but now expectations are set for an orderly Greek default, hence the rally. The Street is still expecting a default, but one with a tighter blast perimiter, namely confined to continental Europe, with all the best people in their shelters and unscathed.
Its like beating EPS by a penny, after having guided lower in the prior quarter.
Personally it looked like an excuse for a 'technical trade,' that is, an opportunity to squeeze the speculative shorts.
VIX remains elevated.
As a reminder, I do not accept any money or gratuities for this Cafe which at least for now is self-sufficient. The markets have been kind through the past ten years, and we keep our needs simple.
If you feel that you wish to do something for benefits received, a noble emotion to be sure, I would ask that you 'pay it forward,' that is, be kind and loving to someone who may not have done anything to deserve it.
If you wish to send money, a worthy charitable interest for many years has been St. Francis Friends of the Poor in New York City, which does good work with the homeless, and is always in need of funds since the homeless and the afflicted are numerous.
But please don't send anything to me. I am very grateful for the thought. If you really wish to do something for me personally that I will value, remember me in your prayers. And if you ordinarily don't pray, all the better if you put a little effort to it, and get the kinks out of your knees. Looking up to something greater than yourself may do you good. lol.
Remember me, as I do you and yours, every day.
There are many in need. When someone says, 'Why doesn't God do something about it?' I think, 'He did. He sent you. Why do you think you are here?'
So there is always something to do, even if it is a small thing, little and unnoticed by the world. You have not been created in vain. You have your work in this life, you have a calling that no other person can perform in the same way as you.
Have a pleasant evening.
