The last trading day of June is seeing a relief rally of sorts. Will it hold? Or is it just strength that will get sold throughout the day? More on that during the 11pm news.
Here are this mornings Greeds... make that reads:
The opening session rip turned into an all day drip, as stocks trickled down the drain throughout the trading day. Even a late day bounce proved, much like Greek's debt, unsustainable.
We've seen these days before, but prices are usually found going in the other direction. The $VXX, an instrument of years long past, thought to have died a slow agonizing death, was brought back to life today. Investors, while piling into the 'safety' of US treasuries were finding other ways to trade for continued Greek 'fear, jitters, worries'. Their answer? An instrument that has gone from over $7,500 to $20 in 5 years. $VXX closed the session up over 17% as you can clearly see on this chart via the visual aid of a Hubble Telescope.
What does the rest of the Greek hold for the stock market?