broken wing butterflies

Is Russian aid a Trojan horse?

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We all know the story.  Troy is finally sacked by the gift of an enemy-impregnated horse the size of a house.  Browsing through the WSJ online I see an an Orthodox Priest blessing a fleet of aid trucks.  I half think there might be some Spetsnaz Commandos lying in wait in those bad boys.  With the gimpy stock market today I am not the only one.  I am all for Putin giving aid to the hungry but it is still tough to believe.

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Friday Market Angst

Stocks rallied yesterday on a dose of good earnings and brisk GDP growth, coming despite the slow down in government spending.   It is good news that the US economy continues to grow.  As in 2011 and 2012 issues overseas can easily take front and center as they are this morning.  The distribution of option volume in the SPY yesterday was not looking great for our rally.  Mark rightly pointed out in the blog last night that there was no VIX buy in for the rally.  Today he looks pretty right.

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