Andrew Giovinazzi | The Options Insider

Friday Market Angst

Stocks rallied on Thursday on a dose of good earnings and brisk GDP growth, coming despite the slow down in government spending.

The Fed is continuing the modest tapering of bond purchases and thankfully ignoring the machinations in Turkey and Argentina

What a difference a year makes.

Stocks are off to a muted start this year as the record highs and so-so earnings reports are at loggerheads.

The big surprise for me is the lack of interest in volatility into the NFP on Friday.

As 2014 continues with the not much happening award, there are some big mark downs going on in the volatility markets.

I don?t know if it will happen today or the next day or sometime in January, but VXX will rise off the mat again.

Without parsing what the Fed said, they are officially starting to wind down their extraordinary measures.

The market did not moving a whole lot yesterday in anticipation of what the FOMC is going to decide on bond purchases.

The market took another look over the edge yesterday and decided to walk back from the brink.

With the VIX up .05 to 12.86 as I write this the market is taking a long overdue breather.

I want to characterize yesterday with movement.