TRENDING
Over the past two sessions almost every market vertical suddenly turned on a dime, the one exception of course being equities as downside corrections have effectively been illegal since November of last year. You’d think retail traders would love it but it’s become increasingly clear that the pool continues to shrink, the only exception perhaps being the stubborn buy and hold brigade.
I don’t know about you guys but I’m definitely ready for October and what hopefully will turn into a solid earning season. It’s not that I don’t enjoy bearish tape but let’s be honest, August and September have been huge disappointments for the bears since the onset of QE. Now that it’s officially being shut down and rate hikes supposedly are on the horizon (I see it when I believe it) the grizzlies may have better luck next year. To me of course it’s all the same – up or down – I simply trade the tape that I am being handed.
Earlier this week we attempted a long campaign in silver which however was stopped out shortly thereafter. After the ensuing downside a new entry opportunity appears to be unfolding now and should be ripe for the taking in the near future. But let’s not rush into things, shall we?
Rejoice ladies and leeches – it’s that time of the month – FOMC Wednesday is upon us again. Which is our collective cue to hunker down and wait for the obligatory wave of volatility to wash over us. I swear, every time I see that one on tomorrow’s event roster my eyes glaze over.
So let’s cut through the crap, shall we? I’ll be happy to tell you in advance what’s going to happen. Yellen is going to deliver her usual litany of reasons for not raising interest rates (namely a shitty economy based on cooked books, fudged numbers, and of course low employment participation) whilst continuing to dangle the magic hike carrot in the [...]
Forward Projection
