Wow, $VIX actually reached 30 today. I'd like to think this is about the bottom, especially with that big spike in IWM that I've just seen; but I'll give it til tomorrow before I start coming back in. In any case, shorting $VIX is dumb while it's in backwardation, and as of 3:45PM it still is, yup.
Anyway, here's some news:
New Deal Demoncrat - you fools! the US economy is actually in decent shape, quit piddling your frilly little pink panties.
Calculated Risk - retail sales decreased 0.3% in September. That's the headline. You have to go into the article to read that September retail sales is actually up 4.3% year over year. Bill, you can do better than that.
BI - CSX boosts its outlook. Yeah, so therefore puke the S&P 500, because railroads having a positive outlook is a sure sign of imminent collapse. Really, people, is this fucking rocket science?
Bespoke - energy sector is being ANNIHILATED. Want a driller with a 10% dividend? Buy Transocean.
FT Alphaville - yet people are rotating into bonds. Yes, yes! What a great idea! Dump an equity after it's down 5-10% to buy a UST yielding 2% over ten years! What could possibly go wrong? I mean, after 5 years of holding that bond you've made back the money you lost dumping your stock. Really, people?
Bloomberg - shorts pile onto oil. Quote:
“Several big, smart commodity hedge funds saidOK let me stop you right there. There are no smart hedge funds. I know this because they're all underperforming SPY. So whatever they said, we can fade.
Mining.com - John Kaiser's tips for escaping the resource sector. The first part of the interview is good. But then he starts recommending stocks. Like Exeter.
IKN - Marin Katusa has gone awfully silent on PRD Energy. Quote:
And John Mauldin, why have you been so quiet on this stock, after pumping it to your own flock? Probably just a coincidence.And, I'd like to add: Barry Ritholtz, why oh why are you still reprinting garbage from John Mauldin?
Pharmasave Dave - a new traffic driver found for my blog. Short answer? Hookers on East Hastings. Long answer? Tranny hookers on East Hastings.
Reuters - Lockheed makes breakthrough on fusion energy project. Well, that would be promising. Russia would certainly be fucked in the ass forever.