Late yesterday's news is finding corroborating date from the Organization for Economic Cooperation and Development (OECD), the Paris-based body made up of 34 of the world's most developed countries. In its biannual checkup on the world's economic health, the OECD has slashed its forecast for the U.S. economy, where winter blizzards in the Northeast and port disruptions on the West Coast caused a first quarter economic contraction.
The OECD now expects U.S. economic growth to slow to 2 percent this year from 2.4 percent in 2014, compared to March when it forecast an acceleration to 3.1 percent in 2015.
The 19-member eurozone is still expected to grow 1.4 percent this year, unchanged from the March forecast. The OECD also trimmed its forecasts slightly for China and Japan. Overall growth in the OECD is now forecast at 1.9 percent this year, down from the group's 2.3 percent forecast six months ago.
This news is less than 2 hours old. the following is cut/paste from Yahoo News
GLOBAL MARKETS-Asia stocks dip, euro stands tall on data, hopes of Greek debt deal
U.S. Treasury yields spiked to two-week highs overnight after German Bund yields soared on stronger-than-expected euro zone inflation data. Consumer prices rose 0.3 percent year-on-year in May, beating forecasts for a 0.2 percent increase.
Higher bond yields tend to dent the attraction of stock investments relative to bonds as seen last month during a global rout in debt markets.
We can debate our differences repeatedly. Neither of us will convince the other.
Sentiment: Strong Buy
But I'm not buying in stages. If my reason for owning this matches anyone else's, so be it. I have this now for a couple reasons or 1 mainly, protection. Flash crash, terrorist event, two major events that would send my investment portfolio down too quickly for me to react. If some big drop occurs, the losses will be mostly offset, maybe entirely, to my long portfolio. Whatever stage anyone sets isn't any of my business.
I'm put off by your repeated efforts to dissuade me from holding. I bought today and I'm not selling tomorrow. Your assertion that "most longs don't understand what they are buying" has no verification to it. Secondarily "most longs" did not buy today. Buying low suits me fine. I'll take my chances and won't be reading your sell now point of view again. TVIX has made shocking moves to the upside. I'll take my chances. It's my money. And to point to big upsides, Dec 5 $2.08, Dec 16 16 $3.44. Were you posting during market hours Dec 5 to buy? Seems impossible since your handle is not even 2 weeks old. My advice to you is do what you enjoy doing. If you decide to tell me what a fool I am, you can do that.
IMO one trite saying deserves another. Never say never. Actually the reason I am replying is, it is not tanking in AH. Have you no self-respect; refrain from scare tactics that rely on lies, ok?
You know, you do think quite highly of your own self. Too bad you missed the meaning of my message. As for what you have stated so to you goal here "I just try to talk new faces out of buying this" that is your decision. It may be self-serving, which is much of what goes on at any message board. So I do not have a problem with that. TVIX shorts IMHO do have a problem.
I'm not all that worried though. The market is enjoying some euphoric upside IMO. There must be a ton of free cash available to fuel it higher or seemingly so anyway. Best of luck to you both.