Part 1: The “Phase of Reckoning” Sovereign Debt Crisis Far from over:
Part 2: Europe's Volcanic Cloud Smothers Rally
For those of you not familiar with Tech Ticker clips on Yahoo Finance: Aaron and Henry Blodget do a terrific job of hosting some really excellent guests and non-mainstream discussion a couple of times a day. It’s worth checking in with their site on a regular basis.
The Volatility Index (VIX) is surging of late and this is leading some to suggest that volatility may be topping out at the same 40 range where it peaked in the Asian contagion crisis of 1997 and the 9/11 attacks and that this may suggest a bottom for this most recent stock market correction.
This is possible; however we think it relevant to note that the VIX hit its all time peak in November 2008, and then fell about 50% to March 2009. Over this same time the S&P 500 lost a further 38% before bottoming. Food for thought…
I sit on the advisory board for a new charity called Care for Kenya out of New York City. Tomorrow night we will be holding our first annual fundraising gala overlooking the New York Stock Exchange. The purpose of Care for Kenya is to help provide education and financial assistance for women entrepreneurs and their families in Kenya. The women of Kenya are the most reliable building blocks for the health of their community. When they become self-supporting, they are able to support and improve the lives of their entire family tree. You can see more about the organization and its important work on the Care for Kenya web site here.
Earlier in the day I will be stopping in for a market chat with my friends at Yahoo Finance Teck Ticker as well as touching base with a few other finance friends. Always fun in New York…
