VIX with a 14 handle, little intraday vol, welcome back to the Bore. The 0.4% intraday range, the slow grind higher, the talk about TINA, overrating the economy because stocks are higher, etc. It is repetitive, and all too predictable. This is about as good a time for a stock market vacation as any during a non-holiday.
I will be on a semi-vacation, that is I will be watching the market but my mind will be elsewhere. I don't have the energy to try to pick up dimes in front of a crawling bulldozer. Don't expect anything exciting, just a steady grind higher as the vol gets lower and lower. I'm sure we'll get a pullback eventually, but I definitely won't be looking for one. Waiting for a pullback in this market after a V bottom is like waiting for Godot.
Monday, November 10, 2014
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