So here we are pinned just a bagel throw away from all time highs and supposedly there isn’t anyone interested in pushing the tape higher? What a tease! But remember this: confusion and a void of information almost always beget an increase in volatility. And since we had very little of that over the past few months that’s probably where the smart money may be going. Whether we push higher or lower from here – when it finally happens I expect it to be quick and painful. Just the way you like it.
Last week’s gap upwards has left market participants catching their breath and looking for a sign of future direction. As we are near all time highs there isn’t much technical context to hang our hats on, and until new context is established everyone is kind of stuck in limbo. Of course withholding new context by keeping the tape inside a narrow range is a great opportunity for market makers to make some easy money by bitch slapping over eager participants around a bit.
I have some family obligations to attend to today so let me get right to the point. This may be day you’ve been dreaming of, your chance to actually stick it to the Mole once and for all and, assuming you finally drop that disgusting glue sniffing habit, go on to tell your grandchildren all about it. Do I have your attention now? I thought so
Unlike the majority of the people currently debating the merits or risks of a confrontation in the Korean peninsula I actually have spent a bit of time in the region (Seoul and the surrounding countryside). Thus I have had the opportunity to develop a basic understanding of the country, its amazing people and culture, its industry, and the geo-political situation in the region.