You know it's bad when even the traditional 'pumpers' are getting anxious. While obviously counched in its own "well maybe that's not totally terrible" spin, reading the following from Charles Schwab suggests Liz Ann Sonders, Brad Sorensen, and Jeffrey Kleintop were all struggling to defend any bullish position and perhaps more desperate to CYA in case reality doesn't match their hard-sold perception...
Via Schwab.com,
How long?
Google, aka Alphabet, reported Q2 earnings that beat on the top and bottom line, reporting EPS of $5.01, above the estimate of $4.45, and earnings per share excluding the $2.7 billion European Commission fine of $8.90, also above the $8.25 expected. Total Q2 revenue of $26.01 billion rose 21% Y/Y, and also beat consensus of $25.64BN.
We just read a very insightful post in zerohedge in which the author describes a massive potential payout for someone who recently placed a large option play on in the ViX. Here is his description as quoted in Business Insider.
From Michael Snyder and theeconomiccollapseblog.com:
Another day, another record high in tech stocks...
A very ugly 3mo T-Bill auction today (highest yield since Lehman and inverting the yield curve) sent yields soaring once again as debt-ceiling concerns are spooking cash markets (but not stocks)...
Via StockBoardAsset.com,
Snopes.com is a failed liberal blog from 1994. The website claims to
be the internet’s oldest and most popular fact-checking site. Last
year, Snopes Co-Founder was accused of embezzling company money, and spending it on prostitutes.
Now you can find the blog begging for $500k in funding via GoFundMe. So, far the campaign has raised $18,000 in 3 hours via 710 people...
Another victim of the fake news campaign backfiring on the left.