Something happened around 2:30pm that caused the markets to decline and the VIX to spike.
Anyone can make up any particular reason for the market coming off its highs, but I could not find a definitive explanation. I could argue the stock that led the market decline was DD, and can extrapolate from there w/respect to its industry, but nothing concrete. (DD's decline started at 2pm, before the hoard.)
I saw certain intra-day weakness, and took on a light short position prior to 230, normally I would cover (and I one point I did) but I do not like the current VIX/SP500 set up (and put the protection back on).
Every time I see the VIX being up as the markets are up, I get cautious as it usually is a sell signal. Something may have happened at 230, that most of us are not aware of, corrupting the VIX. But regardless, the set up still merits caution.
I am going to keep combing the chatter to see what could have happened to spark a sell off.
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