The VIX closing at it’s highs today at over 46 and the talking heads are spewing armageddon. I’ve heard: “falling off the cliff”, “throwing the baby out with the bathwater”, and “big and bold” too many times today. I bought a few lottery tickets, with all the group pessimism, I couldn’t resist buying some calls and buying some large cap stocks today (AA, CSCO, F ).
The most surprising (for me) non-mover today was the Euro. I was expecting more downside and continue to expect it to break under 1.40.