Scottish Quadruple Witching Alibaba Friday

I’ll be very brief this afternoon for two reasons. First, it’s been a very rough session across the board as it’s not only quadruple witching Friday (definition here) but just to juice the goose a bit more Alibaba [BABA] went IPO today and the Scott’s decided to remain part of what remains of the once great British Empire.

So volatility and confusion in spates and thus I’ve been mostly staying out. Took a ST long position this morning which however was stopped out when the ES dropped through 2006 and proceeded to test the 2k mark (as in scenario B I mentioned this morning).

Which means until further notice we are back in the ‘play the swings’ zone again. You know – the dreaded 20 handle trading range between 1990 and 2010. The 25-hour BB touch this morning was a first foray into leaving it behind but today surely was not the day – quite frankly I should have probably known better. But the Mole was otherwise occupied to be frank.

Which brings me to the second reason I hinted at above in the intro. Here’s the skinny: For the past two months I have been laboring behind the scenes on something new and extremely exciting. Scott (roughly) knows what it is but even he has no idea what exactly I have been cooking up in my evil lair. Well, I’m getting closer to making an announcement and quite frankly I think it’s going to blow everyone’s socks off. Trading will never be the same for any of us – that’s all I can say for the moment.

And now that I have tickled your collective curiosity let me crack open a cold one and allow to me get back to work – I better live up to my sensationalistic promises. See you guys on Monday!

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Cheers,