Floyd Upperman's Blog

May 7, 2010

The Stock Market

Filed under: Uncategorized — floydupperman @ 2:57 pm
Employment data stronger than expected was not enough to prevent the stock market from moving lower at this point.  Ahead of the weekend there is just to much nervousness, particularly in Europe.  Next week will likely begin volatile as well.  The VIX (volatility index) is already spiking to a new high for this move, up to 40 already!    This indicates the level of fear is sharply on the rise.  Right now the fear is that anything can happen over the weekend and we could drop sharply on Monday. Thus traders and investors are taking positions off the table ahead of the weekend. However, keep in mind anything can happen next week, and that includes a sharp bounce as well.
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