“Back in August I increased my put holding to $2.2 billion dollars on the S&P. Now it’s paying off, remember folks, this is only the beginning, we’re below the 200 MA by a mile now. I just got off the phone from my pal Barry, oh how we laughed, he’s loving it,” Mr Soros said from his jacuzzi.
Unless you’re trading the VIX, things may get a little hairy, especially as the DJIA and S&P have dropped well below the 200 MA.
The bears are back in force this time with a vengeance, and as you watch your pension value depreciate daily, maybe it is time to take George Osborne’s advice and use that money pretty sharpish.
It’s 1929 all over again.