Musical Chairs Vs. More Reality...
From Zerohedge.com:
"As Sentiment Trader points out, we are now approaching
uncharted territory when it comes to speculative activity,
and are back to 2000 bubble levels.
"The heavy concentration on bullish strategies, among all
classes of traders, pushed the Options Speculation Index to
another recent high, beyond anything we saw at the January
peak or in recent weeks.
The only comparison in the history that we have are the
weeks around the peak in the spring of 2000. [Hello?!?!]
It seems we've entered a whole new realm from anything we've
seen over the past nine years, so who knows how much longer -
or more extreme - this can go."
The last time we were here, the tech bubble was about to pop
and result in 50%+ losses for the Nasdaq virtually overnight.
This time around, this is not a tech-isolated bubble. This is
a global bubble fueled by the endless money printing insanity
of the Central Bankers."
With speculation back at bubbleonian highs, why shouldn't
the VIX (volatility index) be at an all time low?
VIX Retreats to Lowest Since July 2007...
April 12 (Bloomberg) -- The benchmark index for U.S. stock
options slumped to the lowest intraday level since July 2007
as stocks rallied on a $61 billion aid plan for Greece.
businessweek.com
After all, things are going soooo good for small business...
NFIB Small Business Confidence Drops To 8 Month Lows...
nfib.com
The NFIB Small Business Optimism index came in at 86.8, a
decline from the March's read. As the NFIB itself confirms:
"The persistence of index readings below 90 is unprecedented
in survey history. “The March reading is very low and headed
in the wrong direction,” said Bill Dunkelberg, NFIB chief
economist. “Something isn’t sitting well with small business
owners. Poor sales and uncertainty continue to overwhelm any
other good news about the economy.” Main Street America's
optimism is at an 8 month low, ignoring completely any sense
of optimism the algo, Fed and momo rally may be attempting to
generate.
"The index has posted 18 consecutive monthly readings below 90."
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Nothing like the world's biggest game of musical chairs...
SOTB |
