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
- FaKe NeWS MaDNeSS... | ZeroHedge
- Internet Censorship in US and Europe Is Coordinated | ZeroHedge
- Italian Crisis Sparks Buying Panic In US Stocks - Dow Hits Record High | ZeroHedge
- The Most Important Market In The World (That You've Never Heard Of) | ZeroHedge
- The Recount Continues... | ZeroHedge
- Fitch On China: 'Banks Face Capital Pressures and Structural Risks' | ZeroHedge
- Fed Labor Market Conditions Index Contracts For 5th Straight Month | ZeroHedge
The most relevant financial news and articles from the Internets
- The 'Westworld' website went completely haywire after the season finale... | Business Insider
- This is Amazon's grocery store of the future: no cashiers, no... | Business Insider
- George Lucas finally saw 'Rogue One,' and he really liked it | Business Insider
- One of my favorite car gadgets is on sale now | Business Insider
- Liberty Mutual is buying an insurance company from a Chinese giant for about... | Business Insider
- Infighting among Syrian rebels has strengthened... | Business Insider
- THE... | Business Insider