10am update - zero fear

The early morning falls - especially in the Dow, are entirely irrelevant. The VIX is telling the real story, and is already in the mid 13s. We're back to a completely fearless market, a market that has the QE fuel it needs, and a debt ceiling...kicked out into February 2014. All is well.


sp'daily5

vix'daily3

Summary

Some will never learn. Many simply don't want to.

Anyone getting overly excited about the opening index declines are even more stupid than the idiots who believed the US Govt' would default.

For those of you who aren't idiots....stick around. We have some interesting weeks and months ahead!
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A reminder on the bigger picture...which is arguably a 'conservative' bullish outlook

sp'weekly8

There is essentially no reason why the market won't broadly climb all the way into the end of next spring. By then, the market should be comfortably in the sp'2000s, if not significantly higher than that.


10.16am.. from VIX 18.50 to 12.80s..in just 8 trading hours. Incredible.