There was absolutely nothing good about today’s market environment…
DOW made a new low for 2008 and ended at the bottom of the day’s range on increased volume. And while the NAZ has quite a ways to go to match those lows and the S&P is still ~23 points from its 2008 lows, there was little to be positive about.
The VIX did rise ~2.75 points, but it didn’t come close to any kind of a spike upward which would signal any possibility of a reversal.
It looks more and more like an ugly summer is ahead and we are continuing to hedge tightly ST to take advantage of high volatility and downside hedges.
