For the first time since mid-August, the VIX has been smashed down into the teens.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Pre-CPI Feel-Goods
It’s a pure green morning, folks, and there’s no doubt that the world is front-running the CPI number, which will roll out in less than twenty-four hours. Thus, for the second time, the bulls are trying to reach escape velocity from the nearly month-long base they’ve hammered out between 3800 and 3920 on the /ES futures market.
Tesla Fanboys In Revolt
Of all the corners of the Internet that worshipped Elon Musk, none was more zealous than the one populated by the sebaceous young men over at the /wallstreetbets sub-reddit. They absolutely adored the guy, referring to him as “Papa Musk” and depending on him to make them rich before they reached the ripe old age of 25.
Well, just as the most strident anti-smokers are people who used to smoke but quit, likewise the young lads populating WSB absolutely despise Elon Musk, since they feel so betrayed by him. More specifically, since TSLA has lost three-quarters of its former trillion dollar market cap, countless Robinhood and E*TRADE accounts lay in tatters. If you visit WSB these days, you’ll find the vast majority of front page content is nothing more than some form of Tesla-bashing or Elon-raging. I offer to you a sampling:
Tesla Volume Soaring During Plunge
Stygian Depths
The VIX had an 18-handle on Friday. For the entirety of 2022, there have only been a few days when we have had such depressed volatility. You would have to go back to (appropriately enough) April Fool’s Day to see a VIX this low. I pray to any available market god that this be the bottom.
