The Denial Trade?

The weekly Market Update is posted at Alpha Baskets and includes the following;

Another word we could have used in the above paragraph is complacency which is supported by the low VIX. Also supporting the complacency thesis is a fun fact from Goldman Sachs, via Barron’s, who points out that implied option volatility on one of the larger tech sector ETFs is currently less than implied option volatility on one of the larger utility sector ETFs. On the other side of the complacency trade, we note several retailers have been punished for bad earnings along with the pounding taken by the funny filter app stock in the middle of the week. We can’t say we have seen this movie before but we still have an idea of how it ends even if we don’t know when it ends.

Please click through to read the entire update.

Over the weekend I went to the Overland Expo West in Flagstaff. I’d never heard of it before last Wednesday, it’s an extreme adventure type of thing with some very neat vehicles and some interesting stories to go with those vehicles that should make for a blog post or two.

Sweet 1996 (I think) Humvee that is for sale for $125,000.

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They don’t come much more orange than this Defender 110, look at that!

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1978 Toyota Landcruiser FJ 40 asking in the $70,000’s.

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