And we are officially ticking in 2017! I trust you enjoyed a memorable holiday season and are now ready to slowly abandon each and every New Year’s resolution you committed yourself to just last week. Personally I’m pretty proud of myself as I survived yet another Christmas without adding a single pound. Plus I spent much of the past 10 days collaborating with Scott and a few others on an improved version of Scalpius. I’ll be sharing more on that that as we’re forward trading the system over the coming two months.
This morning I had to hold off parsing my symbols at least until Draghi was done bitch slapping the Euro around. And I’m glad I did as the wild swings haven’t been pretty, largely thanks to the fact that ole’ Mario is a skilled grandmaster at flapping his lips without really saying anything substantial. Which of course is was one of the reasons they gave him the job in the first place. Among today’s highlights are “uncertainty prevails everywhere” (you think?), “need for structural reforms” (what a novel idea), and my favorite “risk of deflation has largely disappeared” – emphasis on largely.
Equity futures are rolling into March (H7) on Thursday and thus we should expect an increase in volatility for the remainder of this week. For us traders more volatile tape means we will need to be extra conservative with our position sizing and optimally add a few more ticks to our initial stops.
Don’t know about you but I just about had it. The constant drama is exhausting and it seems that not unlike adrenalin junkies many of us, including the MSM, have utterly become addicted to it all. At minimum it has created a thriving global industry which is feeding off of the hysteria and taking advantage whenever and wherever possible. It seems that since the turn of the new century our collective lives have increasingly been plastered with a litany of drama, degradation, and depression. Across the board, politically, economically, financially, socially, as well as environmentally the West has somehow managed to stumble from one major crisis right into the next, whilst making [...]