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The increase in the VIX value took weeks, but in the past three trading sessiosn, most of that lift is alrady gone. The interesting thing about this from a chart perspective is that the price bars are behaving like a normal financial instrument, and “support” for the $VIX should be found right about where we are just above the green tint.
I would like to propose the counter-trend bounce is largely done. The Dow Industrials added 1,000 points from last week’s low, and the NASDAQ futures have been hammered out a series of violent “lower highs” for weeks now
I’m inclined to agree. I love paper. Paper newspapers. Paper books. Paper towels. You name it. Maybe it’s because my dad worked for a timber & paper company his entire life?
Looks like the market is embracing the results so far; head over to SlopeTalk to listen to the earnings call, which starts at 2:30 PST.
One of the richest and least-known people in the Silicon Valley is Andreas Bechtolsheim, who was my business partner and investor for my company Prophet. I was sad to see a prominent story in this morning’s paper about how he was caught trying to hide a $415,726 profit from insider trading. He’s had to pay a financial penalty and is disallowed from serving on a public company for five years.
It’s important to put this into perspective. I did the math, and while $415,726 is a big figure to folks like you and me, proportionately speaking, it is $7.51 to Andy. I’m not trying to be cute; that’s the real figure. So, he’s permanently damaged his otherwise spotless reputation over an amount of money which, to you or me, is equal to a beverage from a good coffee shop.
