As The overall market rally to end the week, some traders are left wondering, "What happened to the pessimism that was percolates through markets as Recently as yesterday?"
Case in point, from the CBOE Volatility Index ActionScript (CBOE: VIX) Pit yesterday, reinforced the notion That Which traders have legs and are continuing to be wary of the rally in equities. Note That With The SPX higher by 22 points, though, the VIX reading is now 21.83, down 8.55% on the session. Notably, the VIX front month futures contract is lower by $ 1.30 today as well, trading at $ 24.50.
So what changed overnight? That question to answer, we need to refer to two Conducted interviews on CNBC over the Past 24 hours. That is the first of Mark Fisher and the second that of David Tepper.
While You May not know anything about theses two people, the long and short of it is That They Are, Frankly, filthy-rich traders who do not have genius to Feed Themselves if They just chose not to, still more on trade and / or prognosticate on the markets.
The moral of Mark Fisher's interview was thats the markets, everytime market, include the economic and consumer markets, is bogged in uncertainly and negative sentiment. He voiced the point That stocks, bonds, economic activity, gold prices ", etc. Will Remain In Their current trends Until Dramatically market sentiment shifts. Mr. Fisher called for quick, fresh thinking to combat an economic problem this World Has Likely never faced prior.
The moral of David Tepper's interview this morning, Which I encouragement readers to view here was That or confidence, blatant, unyielding, unwavering, confidence thats the Federal Reserve, by hook or by crook, willing to drive this economy Toward higher GDP growth and higher asset prices. In short, he parted a small red sea of uncertainty That is the U.S. equity markets-he changed market sentiment.
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