When she looks really, really stupid, buy PUTS.
When she looks smart, buy CALLS.
As of today, Sybil still looks stupid, so I'm not eager to buy CALLS yet.
Over this past weekend, it hit me that the market would have sold off on Friday irrespective of the UK referendum's result.
You know, they can spin anything any way they like:
1. If "Remain" won, they would have said, "All priced in," "The UK deeply divided, uncertainly will continue," "Another referendum may be held," etc., and sold.
2. If "Leave" won, of course, the spin would have been easy.
From NYSE's own website:
Specifically, the circuit-breaker halt for a Level 1 (7%) or Level 2 (13%) decline occurring after 9:30 a.m. Eastern and up to and including 3:25 p.m. Eastern, or in the case of an early scheduled close, 12:25 p.m. Eastern, would result in a trading halt in all stocks for 15 minutes. If the market declined by 20%, triggering a Level 3 circuit-breaker, at any time, trading would be halted for the remainder of the day.
A Level 1 or Level 2 halt can only occur once per trading day. For example, if a Level 1 Market Decline was to occur and trading was halted, following the reopening of trading, the NYSE would not halt the market again unless a Level 2 Market Decline was to occur. Likewise, following the reopening of trading after a Level 2 Market Decline, the NYSE would not halt trading again unless a Level 3 Market Decline were to occur, at which point, trading in all stocks would be halted until the primary market opens the next trading day.
"Is the EU referendum legally binding?
Parliament is sovereign and, if Brexit wins, Cameron will not be legally obliged to invoke the Lisbon treaty to start an EU exit
The simple answer to the question as to whether the EU referendum is legally binding is “no”. In theory, in the event of a vote to leave the EU, David Cameron, who opposes Brexit, could decide to ignore the will of the people and put the question to MPs banking on a majority deciding to remain.
This is because parliament is sovereign and referendums are generally not binding in the UK."
From The Guardian
Does it matter how much you made in the past or how much you have now, if you are to get wiped out soon?
Time to print more of your funny money to shove into your brokerage account tomorrow. Your loss will be over 28% overnight.
The sample size: 23.
Margin of Error: +/- 48%.
Even Sybil knows that Brexit has nothing to do with the market fundamentally. If "they" choose to, "they" will move the market higher by 2+% tomorrow even if the referendum result turns out to be "Leave."