First VIX dumped-n-pumped this morning, then Russell 2000 (ETF and Futures) flash-crash at lunch time, and now, amid heavy volume, someone decided it was the perfect time to panic-buy S&P, Dow, and Nasdaq futures...
Some contest to Russell 2000's earlier flash crash...
Th hunt for a narrative to explain this utter farce has started... Did Bitcoin algos just get switched on to trade S&P minis? Bitcoin just topped $2500!
Crazy John McAfee from the jungles of Belize is running a tiny company, specializing in cyber-security and mining bitcoins.
Revenues for the last quarter eclipsed $300k, based solely on mining activities.
The stock has been stuck in retard range, thanks to a pending SEC execution.
Nevetheless, McAfee says his little offal of a company will be profitable by year end -- all thanks to bitcoins.
Iron ore led a slump in industrial commodities after Moody’s Investor Service downgraded China’s credit rating and warned that the country’s debt position will worsen as its economic expansion slows. However, one glance at the divergence between industrial metals' collapse and the sudden buying panic in Chinese stocks confirms what Asher Edelman noted yesterday about the US markets, China's so-called "National Team" was clearly intervening...
Authored by Richard Rosso via RealInvestmentAdvice.com,
The financial services industry is headed for the greatest debate in recent history.
At the end of April, we showed that the California housing market is getting just a "little frothy" again, when in the span of a few days a simple 2-bedroom house sold for 40% above asking. Now, according to a recent analysis by CoreLogic it appears that this was not a one-off event, because as many Californians struggled to gain a foothold in homeownership early this year, they were hindered as a surging stock market and other forces lifted sales of $1 million-plus homes to the highest level ever for a first quarter.