So here we are on the eve of Brexit and index volatility got pushed right to where it was last week like nothing ever happened. It seems the online betting sites are still predicting Brexin as the outcome but you never know until the tally is released. The Quebec and Scottish separatist votes came down to the wire and if there is ever a Texas vote it will probably do the same.
Stocks had a hard time today jumping up to all-time highs. The SPX started the day down and never looked back as the better than expected GDP revisions caused some rate concern. Greece’s PM also started back on the crazy train so that unsettled European markets after they were anxious to get to higher levels. FB is not feeling that right now.
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Stocks regained from lows today after a near panic selloff in Chinese equities. Prices here are down only fractionally as selling in China and the accompanying volatility is becoming habit as Beijing tries to kill the speculation. On the opposite side of the spectrum is TWTR. Not a lot of speculating there.
If you are tired like I am of hearing about the weekly saga of what passes for government on Capitol Hill there is always headline financial news to come back to. The volatility market is locked in a day trade of who says what and when with regards to the debt and deficit so that pretty much kills any trending volatility trade. One stock that has been on a tear recently is Facebook (FB) and the opposite trajectory is Zynga ( ZNGA).