Riddle Me This!
Riddle Me This!
Given the market’s ongoing twists and turns I decided to pop open the hood and look for clues as to whether we’re going to see any sort of resolution anytime soon. To be honest if you sick and tired of being stuck in a proverbial sideways rut, then imagine how I must feel – as I’m the one who has to report on this mess on a regular basis.
So are we having fun yet? The dreaded chop zone of death just below the bull’s stairway to the Santa Rally continues to evade us. Apparently some of us have not been good boys or girls this year – I’m looking at you Julie and GoldGerb has been on Santa’s black list since 1984.
The sudden sell-off syndrome (SSOS®) yesterday took quite a few people by surprise and it had nothing to do with missed earnings.
So riddle me this: How come participation on the buy side actually continued to rise during yesterday’s sudden sell-off – as clearly exhibited by UVOL in the NYSE?
Well, look no further than implied volatility, which once again tipped its head way in advance:
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