China is growing far more slowly than their govt. will admit to, they actually make our govt's economic numbers look believable.
More importantly, tho, it doesn't matter. This market only does one thing: beat the crap out of the majority. We had an obvious breakdown yesterday, and in any normal market there would've been continued follow-thru selling today given 1) the weakness overseas 2) the weak home sellers' report this morning 3) the very overbought conditions.
Instead, we have everyone and their mom buying VIX calls! They are going to keep the market as non-volatile as possible with an upside bias simply because of that!
They know once mkt go down, it's IRREVOCABLE till the Lows of 2009. I can understand they are so desperate to make so many absurd excuses. Well, clock is ticking, they can't hide the sky forever with their small palm. :)
Big boys' BB Card didn't work. Debts can't be paid back by more debts. That was destined to fail at the beginning. I hope they got to know that by now.
So, when are we gonna go to hyper ? I got a rucksack 2day. :)