Market droping on Brexit vote

[dffhogs]

Follow along:

Vote:
http://www.zerohedge.com/news/2016-06-23/nailbiter-continues-here-are-first-official-results-and-they-give-bremain-some-hope

Futures:
http://www.finviz.com/futures.ashx

[ricepig]

Looks like they are going back to last Friday's close when the thought was "leave", as polls suggested otherwise this week, equities priced in the "stay".

[McKdaddy]

I've only gotten 1 call so far, but expect today will be a bit busy.

[McKdaddy]

For those that are interested in some opinion pieces....

[McKdaddy]

More opinions...

[ricepig]

I've only got two stocks in the Dow and they currently are the only two up, WM and Verizon. I just scanned my portfolio and most are up, the REIT's and telecoms. The drug stocks are mixed, and my biggest loser is RDS/b, they are working on it. I started to drop it yesterday, but the trend had been my friend lately and was hoping for more. We'll see how the rest of the day plays out.

[McKdaddy]

We made a couple of small "just in case" moves yesterday for our clients in the event of a leave vote, but going into those trades were assuming they would be unnecessary.  Oh well, I'll take it.

[Kenny Hawgins]

Have several long term puts on various indexes and companies.  Started sweating a bit when the market started going up after hours, went out for a bit, and noticed S&P, Nasdaq, and Dow futures plummeting.  Maybe the fundamentals will actually start mattering now. 

Don't know if anyone was watching this morning but it was amazing just how much buying was being done at the open to bring the price up.  Makes me think central banks were scrambling to prop it up.