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This Is The Market We Have

|Includes: SPDR S&P 500 Trust ETF (SPY), VXX


Day after day in this market "they" buy the dip. We've had so little volatility (or moves greater than 1%), that volatility is near 50 year lows. Drip. Drip. Drip.

VXX Chart

Who is buying?

A combination of short-sellers desperate to catch-up to being underweighted heading into the election. The S&P 500 is crushing them on a daily basis and passive investing looms as a real threat to their jobs. (NYSEARCA:SPY)

Dont fight the Fed

And there's a few Trillion dollars forced into the stock market by dislocations in the bond market. So much money is sloshing around the world. This chart speaks volumes.


Yesterdays mini selloff evaporated by the time my thoughts were printed. I was going to include the probability that we could recover the losses by the close (I was guessing 30%).

"It's a bull market until proven otherwise", I said.

You have to invest in the market you have. This is the market we have. Buyers for every dip. No volatility. High valuations. And new highs.

Drip. Drip. Drip.