Swing low

The action that saw equities take a major dip starting at 4:55 Hawaii time (25 minutes after the opening bell) is remarkable to look at on charts. While issues like AAPL began a leap-off-a-cliff action, VXX soared higher. Roughly 20 minutes later, that momentum reversed. Say what you like about the short term and long term, avoiding flash crashes and global armageddon ... those who invested in AAPL just two years ago and slept well did far better than those of us who sail in a wicked sea of micromanaging.

Starting to look more at the effects of inflation in commodities, especially underperformers YTD gold and silver. GLD is up 1.4% today.

AAPL flirting with 344.

Update, 11:15 am (Hawaii). The divergence between AAPL and VXX has not been entirely common lately, unlike last year (May, to be exact). But today was classic.

Here's another oddity: SLV moving up with AAPL over the past months, while GLD has lagged (at "only" a 30% gain). Too many buyers tipped that golden boat over for a bit, but GLD is rallying once again ... along with equities. Something that never used to happen. Welcome to Bernankeworld.