For the most part today was a sleeper. Most everything sold off after tremendous runs to all –time highs in SPX and NDX yesterday. You know things are nuts when TWTR, yes I bought more juice in there last week, is the market leader for a day. Much of the action in VIX this year, when there was any, has been around politics. DJT seems to keep the volatility around himself and somehow it does not translate to equities except on Russia news snippets. The month of December has been ruled by Congress and I predict that is how the month will end.
9.29 VIX and it feels like we are putting the holiday in to the SPX IV already. 9 VIX does put me into a bit of a buying mode so I started going through my list of names that should be at lower IVs over the next 90 days. And low and behold I did not find what I thought I would find.