The Cherry Bomb

TP Says...

Tuesday December 16, 2014

Conspiracy Alert!  I’m thinking the story these past few days that a 17-year-old from New York has made a real or imagined large amount of money trading stocks was perhaps a plot by traditional financial media to distract readers from the fact that the S&P 500 has dropped 4.6% from its high 7 trading sessions ago.  Conspiracy or not, I would applaud the young man for making any amount of money, whether $72 million or $72 with stocks and (hopefully) options.  But if you need any more proof that the traditional media is clueless, they describe him as a “prodigy” to indicate that he possesses some powers that the rest of us can’t even conceive of.   Now, there are kids whose unusual brains make them prodigies in math or music or whatever.  But trading?  No.  Everyone reading this has more than enough intellectual horsepower to trade successfully.  Some addition and subtraction, a little division, knowing the difference between positive and negative, and you pretty much have it covered.
The 2 points the cash VIX is over the Jan /VX with 35 days to expiry is very wide and uncommon.  That indicates the Jan /VX might still have some upside to it.  

Tom Sosnoff
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