Still nothing to report on the setups front and I’m starting to chew my toenails out of boredom. Actually I’m kidding – I’ve been spending some time looking into some possible IV crush scenarios and as soon as Jay The Executioner and I are have put together a pertinent game plan I’ll be sharing more on that subject. Hopefully before this earnings season concludes – if not then most definitely the next one.
In retrospect I should have extended my vacation until after Eastern, however it is sometimes difficult to optimally consolidate U.S. and Spanish holidays. Now I hope you enjoyed your extended Eastern holiday weekend but now it’s time to kick things back into gear. The futures markets in particular are looking very juicy this morning, so let’s cover equities first and then jump into some setups:
A few years back I wrote a post  in which I profiled one of the main deadly sins of retail trader ignominy – the ubiquitous and often almost fanatic anticipation of mean reversion. I am not going to regurgitate my point; if you are a culprit (and you know you are) then I strongly recommend you read my old post and perhaps also one of my more recent ones . If you’re a noob here then you may also want to point your browser toward our all time favorites page . The holidays are nigh and tis the season to debug your brain and start the new year fresh.
However book knowledge is one thing – seeing things play out in reality is quite another. Let me [...]
Every once in a while we snag that perfect entry and I would lie if claimed that it’s not hugely satisfying. Equities are now in full squeeze mode and after a continued push higher overnight it’s due time to convert a portion of my paper profits into cold hard cash. The remainder stays in the game in expectation of a much more pronounced bear spanking.
My trailing stop is near 2053, a respectable distance away permitting sufficient room for the obligatory late Friday monkey business. This has third wave written all over it – cough cough 😉
Bonds – stopped out at break/even overnight. Can’t win ’em [...]