No More Gogo For This Week's Momo
Markets are experiencing a late day sell off as traders have seemingly dissappeared from their desks. Thursday's USA World Cup game drew traders away from their terminals and most likely convinced many that an early weekend this week would be ideal. On this Friday afternoon, it seems the low volatility, low volume, and never-ending upward march of equity markets has convinced many to enjoy a three day weekend ahead of what will already be a shortened week.
The afternoon breakdown started in Copper futures at 1PM EST (Benzinga Pro users were alerted in Real-Time), nearly on the dot, then the selling made it's way into Gold and Silver before tripping the stop-loss algo's which subsequently drove down the broader-based US equity futures.
S&P 500 E-Mini Futures:
CBOE Volatility Index:
Linked-In (NYSE: LNKD)
Alcoa (NYSE: AA):
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