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August 22, 2016

Just Put Me Out Of My Misery

You know me – I don’t complain often about the tape. But just like you I am merely human (well, sort of) and there are limits to the amount of mental agony I am able to endure. All summer we’ve been stuck in a game of slow motion ping pong, only to be interrupted by an obligatory shake out terminating at the 25-day SMA early this month. It’s been a veritable ten handle range of pain and I’m starting to feel like Phil the weatherman in Groundhog Day. Suicide is not an option and I’m way beyond embracing the pain. May as well have some with it.

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August 19, 2016

Up Is Down

Clearly the tape is toying with us and the fact that it’s OPEX Friday ain’t helping our cause. When faced with excessive tapemockery™ my general advice is to simply stay back and hunker down in anticipation of better trading conditions. No occasional surprise move along your trading direction is worth the mental turmoil and slew of losses you will most definitely have to endure in between. And remember – it’s late summer and although the rumor mills are churning out hype and biased opinions at full blast actual market participation remains muted. Not exactly what I would call prime trading estate for banking coin. Remember: You can’t force the market to [...]

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August 17, 2016

Chicken A La Carte

As anticipated the Fed once again chickens out and in place of a long overdue rate hike is deploying copious amounts of its trademark jawboning . In case the official verbiage is making your head spin let me offer you a rough translation: Our economy is toast and we continue to live on borrowed time. Obviously we’re crapping in our pants at the mere thought of raising interest rates as our fragile over bloated service economy can only subsist courtesy of ZIRP and a growing list of creative monetary experiments. But heck what do I know. Maybe without the Fed going all balls out we’d be all fighting each other in the Thunderdome by now.

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August 17, 2016

Resist The Dark Force

I am now forced to read my twitter stream with specially designed glasses in order to avoid accidental absorption of perma-bear bias via mental osmosis. Apparently as we are mere handles away from all time highs in equities popular wisdom ensures that we are are heading into unprecedented crash territory. You know just like the last time a few months ago, and then there was the other time earlier this year, and then last year around the same time, oh right and before that when rates were lifted by a few basis points. And who would be able to forget the big crash of 2014, which was almost as bad as the one in 2012. Of course nothing compares with the misery we all had to live through [...]

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Cognitive Bias Carousel
  • Loss AversionLoss Aversion
    The tendency to treat money that has already been committed or spent as more valuable than money that may be spent or acquired. Imagine two … more
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