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VelocityShares Daily Inverse VIX ST ETN Message Board

  • thundersforever thundersforever Mar 17, 2013 7:16 PM Flag

    S&P futures 38,000 contracts traded in the first 5 minutes $2.9bn notional

    that is 30 times the average for a Sunday night

    Big gap downs are coming

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    • For sure. The questions is do we gap down and rebound or will this trigger more selling. I am leaning towards more selling for at least a couple days, maybe longer.

      • 1 Reply to descendingwedge96
      • I was a Bullish till now I am leaning Bearish now

        Here today’s news David Zervos:

        Cyprus initiated a surprise assault on the precautionary savings of their own people.

        This was not a Bernanke style slow moving financial repression against risk free savings that is meant to stir up animal spirits and force risk taking.

        This is a nuclear war on savings and wealth - something that will likely crush animal spirits.

        Right now, I would argue that the risk of an EMU exit by Cyprus is real. And this is much more of a clear and present danger than anything happening in Italy or Spain. And even without passage of the tax, the potential for a bank run is very real.

        --This market has been running on no fear close to lows of 2007, Europe back on table at least a healthy pullback

        If there was a back run in many countries it will be a long summer

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