Trading Floor
Now Reading
August Peak
0

August Peak

by The MoleAugust 24, 2020

British tourists have been departing Spain in droves during the past weekend in an attempt to avoid newly introduced legislation that imposes a 14-day quarantine on any travelers returning from the Spanish Peninsula. Suffice it to say that this effectively puts the death knell on an already dismal 2020 holiday season, and given ongoing political shenanigans the prospects for the fall and winter seasons are extremely dim. I foresee at least 50% of all tourism related businesses to go bust before the end of this year.

You wouldn’t know from looking at the S&P 500 however, which scraped new all time highs last Friday. Hooray – I guess… at least the financial markets are in the best shape ever in history – on paper. Very strange times we live in…

My monsters of tech composite for the nth time now – I just can’t get over that chart to be honest. I’ve seen stocks move in my time but I have never ever see an entire sub sector nearly double within a six months timeframe. It’s clear who the benefits the most from the ongoing situation, and it is not main street.

Of course I should talk as I myself have spent thousands online over the course of the past few months. But quite frankly – what other options are there? The few local vendors I’ve tried are low on inventory, ask for much higher shipping cost, and often take a lot longer to deliver.

Nevertheless I do make it a point to order local when a vendor has the product in stock. I really do not want these businesses to disappear and I encourage you all to do the same, even if it costs us all a bit more. The advantage is that small vendors really appreciate your business and will go above and beyond what’s expected to make you happy.

Many of them are on my Whatsapp contact list now and regularly thank me in person when I place an order. Try that with your average Chinese vendor – good luck πŸ˜‰

Perhaps it is a lingering sense of unease that is one of the reasons the VIX has been unable to break below its 22 mark – at least for now and probably until after the US presidential elections are behind us. Recall that big October spike in the VX product depth graph – we are not out of the woods just yet on the volatility front.

Alright, let’s talk stats and then I have a juicy little setup for you guys:

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator