Barring a meteoroid punching a hole through our moon or the St. Andreas Fault leveling the West Coast it seems that the collective sideways churn will most likely extend all the way into the November 8th presidential election. No matter where you stand politically I’m pretty sure you hate this tape even more than either Hillary or Trump. But let’s remember that bitching and complaining is the domain of losers. Instead let’s think about how we can take advantage of the situation.
In case you are wondering – no, I didn’t acquire a glue sniffing habit over the weekend. Let me explain the four scenarios above and it’ll all make [...]
Yesterday’s post highlighting the increasingly volatile situation we are facing on the currency side couldn’t have been more prescient, as earlier this morning the British Pound suddenly found itself on the receiving end of a 6% flash crash during Asian trading hours. Some of the losses have been recouped ever since but that will be of little consolation to anyone who may have been long the GBP overnight.
Yesterday’s low participation stop run on E-Mini came within a tick or two of my current trail which still sits near my break/even point. I assure you that there was no foresight or technical skill involved whatsoever and I’ll ascribe it to pure luck. We’ve had quite a bit of that in the last few weeks and it tells me that I probably shouldn’t push my good karma quota and treat lightly.
All I want for Christmas is for this range bound market to finally find its quick and painful ending. There, I said it, and I’m sure many of you can empathize. It’s not just that equities are running in circles, almost every symbol I pull up these days is stuck in sideways mode. The number of weekly campaigns I feel comfortable taking (and recommending here) has steadily dropped since the summer. And although that has kept me and hopefully you as well out of a boatload of trouble it’s mentally taxing. Especially if you’re a financial blogger and are expected to keep things interesting and profitable for your readers.