By Chris Becker
The volatility gods are smirking as beleagured traders such as myself try to navigate a course through technical ‘glitches’, Greek dramas, German intransigence and Chinese finger traps. A frightful Asian session was followed by a more hopeful Europe as rumors and reports that “compromise” was on the able pushed stocks slightly higher, with an accommodative Fed minute release helping until a major blackout on the NYSE crushed already frayed nerves, sending money to bonds.
First I have to note that the volatility index (VIX) is almost back at historic highs, as this weekly chart shows, a possibly portend of higher volatility in the days and weeks ahead. Cash looks better and betterer here:
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