Many drunk traders woke up on Thanksgiving with late-night news of a new coronavirus variant out of Africa — and it shook the global market with a big sell-off on Friday.
However, the news is preliminary and not informative. For example, we don’t know if the new strain is necessarily more lethal, just that it is “very different.” In fact, the initial word coming out of South Africa is that the effects are actually milder.
This could end up being just another fear-induced buying opportunity for the markets to go higher by the end of the year.
The market, however, should continue to be volatile into 2022, and this elevated volume could create opportunities!
This is the amount of outstanding shares in a VIX-tracking exchange-traded note called VXX — which has doubled in size since February! The crazy part about this is it's happening while volatility is falling.
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