My favorite quarter of the year is slowly drawing to a close, with Memorial Day in the U.S. demarking the beginning of the long awaited vacation season. It’s been a long winter and we haven’t really seen much of a spring over here in the Mediterranean to be honest. The past three months brought us only a few warm days as the general theme was dominated by rainy weather, cold spells, and even a patch of frost in late April that damaged a good number of vine crops up North in Southern France.
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 [...]