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April 12, 2017

Market Fragility

I feel rather conflicted about the price action over the past month and quite frankly that’s exactly how I should feel and thus act accordingly. Just take a look at a daily E-Mini chart and compare the March contract (ESH7) with the current front month (ESM7) and tell me what you see.

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April 11, 2017

Thrilling Implied Volatility

Apparently the odds of seeing any type of resolution before the long Easter holiday weekend are low (what are the odds I will eat my words on that one?). Which gives me an opportunity to dazzle you guys with some rather thrilling implied volatility (IV) charts. So strap yourself in and make sure you do not extend your hands or legs outside the carriage until the ride has come to a full stop.

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April 10, 2017

Monday Warm Up

Things are still looking quite dicey across the board, i.e. volatile and mostly sideways. Which means we’ll have to remain extra cautious with our exposure and keep an objective mindset until we see more directional tape again. So this will be a quick Monday morning warm up with some general perspectives and ideas as to what symbols to watch:

The wave wankers amongst us would probably label the current formation a 1-2-1-2 pattern and I simply call it a corrective inflection point after a major advance in equities. What I mean by that is that the odds are roughly equally balanced right now pointing in both the bullish as well as bearish direction. Relatively small [...]

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March 21, 2017

Crude Update

A few days ago I stated that it was extremely stinky that in context crude could not even break it’s daily low. This lessened the odds of a bearish resolution.

Today we have price action which changes from a lessening of the bearish advantage to a bullish advantage.

The gold standard of trading is holding onto your opinions so weakly that you don’t hesitate to change them when the facts change. Which is why (with the exception of our gracious host and a few lonely others) mostly bloggers and prediction monkeys suck at trading.

Once you put your ideas out into the ether it becomes very tempting to hold on to them, which is one of the many ways [...]

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