OK, I don't usually read marketwatch, but these two caught my eye and I'm tired from hauling my butt up a big ass mountain today so let's make this quick. Something good and something bad.
MarketWatch - The Chartist now charts a downward path Commentary: Top-performing adviser is back in cash, again "But Sullivan earlier this week pulled the plug on even this remaining equity exposure. And so, all his model portfolios are now 100% in cash."
And something to make you happy! This is some real bullshit.
MarketWatch - Banks buying back TARP warrants at a discount, panel says "A panel that oversees a $700 billion bank bailout package said Friday that financial institutions buying out warrants they gave the government in exchange for capital injections are now buying back those stakes at well below their fair value." HA! Go freaking figure. More BS manipulation for the banksters. This is just unreal.
OK - Three quickies - Prag Cap - DOES THE VIX GAP = MARKET CRASH? "However, the noise coming out of the Chicago Board Options Exchange today is over a July call spread using VIX options that relies on a market swan dive over the coming 41 days before it would earn profits. One trader spent an $850,000 premium on buying 20,000 July calls at the 45 strike while selling the same amount of 55 strike calls, thus lowering the overall premium to 42.5 cents. The VIX hasn’t traded above 40 since April 21 and we’re wondering what this guy knows that no one else does."
PS - GLD looks weak IMO.