S&P 500 Crosses 1500
January 24, 2013 - 10:13am
If there was one day needing some truly epic distraction from the bloodbath of the world's most widely held stock (held by some 231 hedge funds as of September 30, and countless mutual and other plain vanilla funds), it was today. And sure enough, it came courtesy of the S&P, which "restored" confidence that 'all is well' after it just crossed 1500 for the first time since 2007. The only thing missing were balloons falling from the sky saying "all is well, keep calm, the NY Fed-Citadel fat trading pipe is working perfectly and will keep buying stuff as long as needed." It would appear the Long-AAPL, short S&P trade is in full unwind mode - and we note that trade size is large up here. and S&P 500 Futures tell the whole picture as futures did not budge off the lows until the day-session opened and the idiocy began...
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