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
- “Saving Social Security” May End in Dollar Devaluation | Financial Sense
- Herbalife Surges After Icahn Denies WSJ Selling Report, Says He Bought Another 2.3 Million Shares | ZeroHedge
- The War On Whistleblowers & Why America's Next President Will Kill Julian Assange | ZeroHedge
- The Broken Chessboard: Brzezinski Gives Up On Empire | ZeroHedge
- Felix Zulauf Sees Final Leg of the Bull Market | Financial Sense
- Consumer Confidence Slumps As Inflation Expectations Crash To All-Time Lows | ZeroHedge
- Iraq War Surveillance Technology Being Used In Baltimore Without Public Debate | ZeroHedge
The most relevant financial news and articles from the Internets
- Here’s a simple no-weights workout that could... | Business Insider
- This one salad can turn into a week's worth of dinners | Business Insider
- What Donald Trump, Jennifer Lawrence, and other highly successful... | Business Insider
- China’s middle class is exploding | Business Insider
- The biggest smartphone maker in China has made one of the best affordable... | Business Insider
- Save $100 on one of our favorite kitchen devices — and more of today's best... | Business Insider
- Alert: Fintech revolution hits roadblocks | Business Insider