Thursday, May 20, 2010

Another day in the Whirling Gusts of falling prices - everywhere [except the VIX]




This pretty much says volumes (extracted from FULL POST on Zero Hedge):  

DXY weakened 0.58% to 85.89. 
Oil fell $1.86 to $68.01. 
Gold fell $11.35 to $1182.4. 
VIX increased 10.47pts to 45.79%. 
10Y US Treasury yields fell 15.6bps to 3.22%. 
S&P500 Futures lost 3.9% to 1066.6.
Where are we going from here?  The overnight markets, Asia is opening with continued weakness in NZ and ASX both off over 2% from open.  Dow, S&P, and Russell futures are all exhibiting weakness as well.  I feel for the short squeeze on the EURUSD which now stands well into the 1.25's - quite the trade to have made from the low in the 1.21's.  Did you have the composite titanium carbon-fiber cajones to stick with it?  Oil is also doing a spectacular price dance, down into the $65's before rebounding and currently hovering in the $69's.  NG continues in the $4-5 range having crept below $4 twice in late April and early May but rebounding as well.  Watch and Learn.

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