Cyprus Drama: Now will Stocks Fall?
The news of Cyprus closing it's banks until Thursday has got us thinking the iPath S&P 500 VIX ST Futures ETN (VXX) and ProShares Short S&P500 (SH) are the weapons of choice. Trading could get very rocky and it's reminiscent of the Bear Sterns and Lehman Brothers disaster. There's no panic yet but that's because we all don't think Cyprus has much clout to move the world markets.
Today the VXX is up 2.6% and the SH is up less than 1%. We know have to listen to the media debate about how important or unimportant the impact of the pending Cyprus Bailout will have on our stocks. Now could be a great time to review gold and silver stocks or just stay in cash.
Forget what we may think, check out Henry Blodget's take on the whole mess. If anything Blodget sums it all in a quick article that is worth your time today. If you only read one article today about the market, read this one.
Happy safe trading Masters.
Here are the charts for the VXX and SH:
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Frontrunning: April 16 | ZeroHedge
- Staff Sergeant Dignam’s Take on Whether the Market Has Bottomed | iBankCoin.com
- I Hope You Live Forever | iBankCoin.com
- A Proper Portfolio | iBankCoin.com
- Testy Tuesday – Tax Day Edition | ZeroHedge
- NATO To Boost Air, Warship Presence Around Russia; Netherlands May Deploy F-16s To Ukraine | ZeroHedge
- FBI Plans To Have 52 Million Photos In Facial Recognition Database By 2015 | ZeroHedge
The most relevant financial news and articles from the Internets
- E-COMMERCE INSIDER: Mobile... | Business Insider
- Marketers Shouldn't Wait To Join The Latest... | Business Insider
- Facebook Can Now Track Your Precise Location Continuously Through Your... | Business Insider
- The 25 Coolest Small Businesses In Washington DC | Business Insider
- This Massive Private Island In The Bahamas — Once Listed For $55 Million —... | Business Insider
- Less Than One-Third Of Top... | Business Insider
- Here's What Yahoo's Marissa Mayer Earned Last Year | Business Insider