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VIX spiked over its 200 DMA today. Keep a close eye on where it goes next.
I shifted gears on my short positions late in the day, from triple short to the same units in an SP index short. Both sides of the paired trade were working for the account as gold spiked higher. I did take a few more profits. I own no miners now except for one special situation.
This is still option expiration and even with Greece overhanging the market, the wiseguys are more concerned with their bonuses than with anything else unless it hits them in the face.
Carlyle is doing a review of the investment banks to see who can claim the honor of handling their prospective IPO. I wonder how much of that resume will include managing the market in order to get that pig out in rough waters. If that's the case look for JPM and Goldman to have lead roles.
My first thought is that the Carlyle IPO would mark Land's End, and the cliffside boundary. Let's see what happens.
There were more large silver withdrawals from the Comex Deliverable Inventory with 773,018 ounces taken out of the Brinks depository. Additionally, there were withdrawals of 1,418,178 ounces of silver from the eligible (customer) inventory.
Comex will have to add to their deliverable inventory from some other sources in a tight market. Typically that implies higher prices.
Someone with credibility suggested to me yesterday that a panic liquidation in all assets may be in the cards in the minds of the Wall Street banks and the monied class. When you cannot win the game, you kick over the card table and turn out the lights.
Since they are sitting in large pools of cash, thanks to the Fed, this would allow the monied interests to buy good assets up on the cheap, to fill the holes in their balance sheet as they write off their remaining fraudulent assets. A reset for them, and a misery for the rest.
I remain a little skeptical that this is their intent, but it would 'work' to their benefit. After all, 'first by inflation, then by deflation...'
More likely is a longish period of stagflation and continued kicking the can down the road. And a gradual exposure of more fraud in the financial markets, with fake paper assets undermining the real economy and genuine wealth.
And then it gets ugly.
