Been a Frustrating Drip Lower
What happened to the days when investors panicked when the market opened down? They don't seem to exist anymore. I certainly did not sense much panic in the air on Monday. After all, the put-call ratio never even got close to 100%, and the CBOE Volatility Index (VIX) could not even break out of the range in which it's been.
What we have now is a situation in which it seems the whole world is watching one level on the S&P 500. I am certain my mother will call any day now and ask me if I believe 1360 will hold on the S&P, seeing as she gets her market information from "the guy on the radio." If he says it often enough, she thinks it's important enough to call me and ask about it -- and that is usually about the time it's priced in....307 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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