Never Make Your Move Too Soon

Wisdom from BB King

Overnight action was crazy with VIX up above 45 and the April VXI futures crossing above $32 before what appears to be a reversal. That’s a pretty wide premium for “spot” over the futures.

Anyway, rather than try to dissect yesterday’s market collapse, I’ll leave you with two snapshots and then come back over the weekend with a deeper assessment of what we’re living through.

I did make the point on X/Twitter this morning that I had no idea what the tariffs would do, but there was no reason for anyone to be out over their skis.

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