Dow went negative around 2:30 briefly and now back up 170. MLP index now unchanged. Goldman Sachs seems to be dictating the tape.
As i type dow back up 200
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- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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1 comment:
The volatility of this market is making me nausous. It's certainly no place for widows and orphans. If there are any Marc Faber fans hanging around these parts, here's what he had to say about volatility in his December newsletter:
"Philip Isherwood of Dresdner Kleinwort published a while ago a study in which he showed that when volatility is above average, equity returns tend to be weak whereas low volatility leads to higher returns. He notes: “Unsurprisingly, high volatility is pro- Defensive, not pro-Cyclicals”! Isherwood then goes on to explain that, “…generally, markets prefer volatility to be low and the reason is understandable (not just for planning and sanity reasons) — for European equities have risen on average by 0.3% a week since March 1987 when volatility has been below average, but have fallen by 0.02% when volatility is above average….Within the market, it is no surprise to find a stability-versus cyclicality angle to high-versus-low volatility — shifts in volatility after all reflect changes to the macro outlook.…”.
- Marc Faber [GloomDoomBoom.com]
Volatility?! This market is enough to give an NFL nose tackle whiplash!
Lee
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