An investment in knowledge always pays the best interest. -Benjamin Franklin
SPY is all over the place in anticipation of Bernanke's latest shpeal from the Fed. The Bulls and Bears are anxious as it is unclear, no matter what he says, how the market will respond to the news. This uncertainty has benefited the ETFs attached to the VIX. Here are the highs in the first 30 minutes of trading this morning:
In that same time period we saw SPY lose -.3%. The rollercoaster continues! We'll have to wait and see how Bernanke's words are absorbed.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.