Thursday, May 20, 2010

Politics matter

Even if you or I hate it. If financial reform is approved on a second or third or 15th try, how does that affect FAZ? It can't help the finnies, especially GS (dependent on trading and Monopoly-money clients). But even Citi, which is trying to be a bank and just a bank, has been hit hard this week.

VXX has surged in this lunch hour, pushing real close to 34.00 while the Dow was tanking toward -300 again. Both surrendered at those borders, though. More than 3 long hours left today. Unless some miraculous news comes out of the White House, afterhours trading will be turbulent.

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