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Archive for July, 2015
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Thursday Road Map

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July 30, 2015

Thursday Road Map

Finally this month’s Mad FOMC Wednesday is behind us and we can get back to what we do best – squeeze ill-gotten gains from this crazy market. We have a ton of juicy setups today and equities also offer us various ways to get (mildly) exposed, so let’s get to it.

Now, I’m going to make this extremely easy for you today:

While we’re between 2100.75 and 2095.5 – do NOTHING. This is hardcore churn territory. Above 2100.75 the bulls are in possession. Below 2095.5 you can be short with 1/2R or less. At 2085 we evaluate – best to consult the Zero at touch down to see if there’s a potential fumble in the cards. Below 2083 [...]
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Volatility Wave Surfing

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July 29, 2015

Volatility Wave Surfing

It’s that time of the month again and you know the drill. While the MSM is waiting with bated breadth to receive the announcement of the FOMC we hunker down and let any big volatility waves wash over us:

So unless you are prepared to be smashed against the rocks stay out of the water.

I don’t know why those wankers always have to schedule this in the middle of the day. Let’s get it over with at the open so that we don’t waste a perfectly good trading session. Does it take that long to get Mrs. Yellen camera ready? Enough said…

As I’m not completely useless here’s some context. The spoos would be a [...]

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Dangling By A Thread

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July 28, 2015

Dangling By A Thread

Once again we are trading near bearish territory but I don’t mean to attach any directional bias via this post’s title. We all have seen major support come and go many times over the past few years. In most cases they served as great opportunities for the bulls to BTFD. Now clearly market conditions are shifting and the bearish case has been gaining a lot of credence over the past few months. However short of having a crystal ball the best we can do is to position ourselves appropriately near important inflection points and monitor the tape carefully for early clues. But have no fear – the Mole is on the case, as usual.

We are actually enjoying quite [...]

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Paying Attention Pays Off

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July 27, 2015

Paying Attention Pays Off

Early Thursday morning I announced the following: “We are about to see a large move on the forex and futures front. Equities are simply the tail being wagged by a big (and currently snarling) dog. Time to pay attention – summer or not – these are conditions in which to bank some coin.”

I don’t think many heeded my advice – at least judging by what I’m seeing in the comment section. Only problem is that big moves happen when we least expect it and the current drive lower one could turn into something bigger. Given that we are approaching weekly support I am going to take half off the table and leave the remainder in the run for a potential [...]

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