British tourists have been departing Spain in droves during the past weekend in an attempt to avoid newly introduced legislation that imposes a 14-day quarantine on any travelers returning from the Spanish Peninsula. Suffice it to say that this effectively puts the death knell on an already dismal 2020 holiday season, and given ongoing political shenanigans the prospects for the fall and winter seasons are extremely dim. I foresee at least 50% of all tourism related businesses to go bust before the end of this year.
You wouldn’t know from looking at the S&P 500 however, which scraped new all time highs last Friday. Hooray – I guess… at least the financial markets are in the best shape ever in history – on paper. Very strange times we live in…
My monsters of tech composite for the nth time now – I just can’t get over that chart to be honest. I’ve seen stocks move in my time but I have never ever see an entire sub sector nearly double within a six months timeframe. It’s clear who the benefits the most from the ongoing situation, and it is not main street.
Of course I should talk as I myself have spent thousands online over the course of the past few months. But quite frankly – what other options are there? The few local vendors I’ve tried are low on inventory, ask for much higher shipping cost, and often take a lot longer to deliver.
Nevertheless I do make it a point to order local when a vendor has the product in stock. I really do not want these businesses to disappear and I encourage you all to do the same, even if it costs us all a bit more. The advantage is that small vendors really appreciate your business and will go above and beyond what’s expected to make you happy.
Many of them are on my Whatsapp contact list now and regularly thank me in person when I place an order. Try that with your average Chinese vendor – good luck 😉
Perhaps it is a lingering sense of unease that is one of the reasons the VIX has been unable to break below its 22 mark – at least for now and probably until after the US presidential elections are behind us. Recall that big October spike in the VX product depth graph – we are not out of the woods just yet on the volatility front.
Alright, let’s talk stats and then I have a juicy little setup for you guys:
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