Wednesday, July 28, 2010

Solar flare

From a chat room posted by colleague Ed Carlson:

Earlier today (Wednesday), magnetic fields looping over the sun's southeastern limb became unstable and erupted. The blast produced a bright, towering prominence that attracted the attention of amateur astronomers around the world. Meanwhile, on the sun's northeastern limb, a big new sunspot is emerging and it is crackling with C-class solar flares. Visit for images and movies.

Comments to this included that it will raise volatility. Online sources suggest it will disrupt electronics andthat would disrupt business and disrupt the stock market.

Wikipedia says we have 8 days before it gets here.

Is any of this reliable? We can hark back to Arch Crawford's hugely bearish call from last weekend (Arch follows the stars). But guess, what, late July is seasonally weak according to Traders Almanac so let's just say I do not believe the July rally was anything more than @#$% you bears.

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