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Evaporation of Liquidity

It seems rather unfortunate that the hack of an AP twitter account can cause more of a disturbance in the market than an actual terrorist bombing in Boston.  A 15+ point dive based upon hacked falsehoods:

It seems unlikely that today’s rally was a recovery and continuation of the rally that we have experienced since the middle of November.  In fact, it seems likely that today’s rally was more of a short-covering fueled bounce than a continuation of something “good”:

What is actually kind of entertaining in this market is the complete apathy in options and implied volatility.  10 Day realized volatility has ramped up to 20%+, but the VIX dropped to 13.48%.  I might be Naive, but I have found that the best indication of future volatility is recent volatility…

I am not biting.  Euro was down today, gold is slanting negative once more, DBA (agriculture commodity ETF) was down about 1% today.  Doesn’t seem like a happy picture going into a temperamental season.

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