The brokers in the pit continued to buy them especially in the 1292.00 to 1294.00 this morning ahead of the Housing Index number. They might know something we don’t know. The VIX opened on the highs and went straight down from there. I thought bonds would tip its hand but has not done too much. All other markets fairly quiet as well.
The market absorbed a downgrade from Eagon-Morgan of Germany but S&P says it wouldn’t yesterday. Initially I thought we would see everyone running to the exits but so far nothing really. Something I will be looking for as the momentum can change at these times.
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