Yesterday afternoon I was mixing it up on a few Stocktwits streams that were a little too ‘hot’.
Over 9 years of watching the streams, my naked eye tends to pick up the froth and conversations on penny stocks that may signal a form of exuberance and for me a sign to be careful.
On top of that, I have been writing about the $VIX the last few days trying to figure out how this market can seem to defy norms of volatility.
Of course, Yahoo Finance also ran this on their front page yesterday which turned out to be a kiss of death:
Front page of Yahoo finance right now pic.twitter.com/uZ8xrBgwYT
— schaudenfraud (@schaudenfraud) May 16, 2017
Today was a bloodbath.
We had the 7th largest spike in $VIX history – up 45 percent.
While politics does not move stock markets in general, today the Trump White House seems to truly be imploding on itself.
The markets have had a historic run and have been looking for a reason to sell off.
We might finally have a break in the relentless trend.
So – should you panic sell now yourself?
Not necessarily so.
My friend Charlie did some digging and tabled up some results. Take a read.
Also published on Medium.