Wednesday, December 10, 2014
Correlation skyrockets on the selloffs
HYG did this:
which tanked the markets, making $VIX do this:
and thankfully I cut my losses in the $VIX shorts and ZUB.to earlier this aft. It was seeing the strong correlation between EWJ (did you know the Nikkei isn't open right now? Then why should we see any intraday moves in EWJ?) and HYG (the market's vomit button for the past few months).
Now the gold miners are getting pulled down:
back below the SMA(50). But that's only because every single thing that's tradeable on the NYSE is getting puked right now.
Because gold is still up here:
above its own SMA(50) and not moving anywhere.