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Bitcoin And The Trough Of Disillusionment
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Bitcoin And The Trough Of Disillusionment

by The MoleMay 29, 2018

I hope you all had an eventful Memorial weekend, yet still managed to spare a few minutes of appreciation for our proud fighting men and women, here at home as well as abroad, in times past as well as at the present. Wherever you went, I hope it wasn’t Chicago.

I for one spent my time away from the blog productively by putting the finishing touches on a new intra-day trading system I have been developing over the course of the past year in collaboration with another quant. It takes advantage of recurring IV inefficiencies in pertinent ETPs, and after hundreds of hours honing the system we are very excited about finally being able to deploy it live.

Releasing a new system is always accompanied by a mix of emotions as it, per Murphy’s Law, will invariably head straight into a losing streak. Once the training wheels are off it is however exciting to see if reality is inclined to live up to theory. What’s most rewarding to me are all the things I learned in the process and the new skills I picked up, all of which of course will feed into future system development.

System traders truly are like sharks but not in the fashion the gullible public would like to believe – rather in that stagnation without fail eventually leads to death. Trading the financial markets has always been and will continue to be an arms race, but it is one I deeply enjoy as it is one of the few remaining niches of life where good intentions without skill or talent mean nothing, while hubris, arrogance, and herd behavior are usually punished instantly and most severely. I personally wouldn’t want to have it any other way.

Crypto In Decline

Now while markets are starting to catch up after a low participation pre-holiday week of annoying whipsaw I thought I’d get us started with some musings regarding the drastic change in sentiment we have witnessed across all things crypto over the past six months. Whereas you could easily find yourself being tarred and feathered and then carried out of town on a rail by merely suggesting the possibility of a  corrective phase in crypto currencies as late as mid December 2017, it’s hard to find anyone who’s bullish crypto these days.

So, what happened? Well, if you believe in the Gartner hype cycle, Bitcoin and the entire crypto space by extension entered its peak of inflated expectation in early 2018 and has since descended toward the trough of disillusionment. Now wait a minute, what exactly is a Gartner hype cycle and where can I buy one? Wikipedia defines it as:

The hype cycle is a branded graphical presentation developed and used by the American research, advisory and information technology firm Gartner, for representing the maturity, adoption and social application of specific technologies.

Of course none of this is completely new. Having followed technology for over 30 years now this reminds me a lot of the technology adoption curve described by Jeffrey A More in his 1991 book ‘Crossing the Chasm’, which was all the range back then. Where the Gartner curve differs however is in not focusing on discrete segments of population, (e.g. early adopters, majority, and laggards) but in outlining the progressing of perception and the hype that accompanies a particular concept or technology.

To be clear, the Gartner curve does not reflect an inherent quality of a particular technology, idea, or type of business, rather its premise lies in quantifying our collective perception of technological progress as well as that of its future value. Now wait a minute – future value? Doesn’t that sound a lot like the basic concept all futures markets are based on? Well, if you believe the hype then yes! (pun intended)

The graph above shows Gartner’s 2017 hype cycle for emerging technologies and at that time (July 2017) blockchain had already progressed far beyond its own peak with Bitcoin most likely already leading it lower. The underlying reasons for that are plentiful and most likely better explained by analysts more keyed into the crypto sphere as a whole.

What’s The Big Deal?

What I see personally is a phenomenon that I see regularly in the financial markets, which is a trending phase based on hype, a big shake out that punishes the late comers and greedy pigs, followed by an extended mind numbing corrective phase. All of which eventually leads into less volatile and more mature long term growth until the onset of the next hype phase.

Which of course brings me to Bitcoin, the actual financial currency many of us have been using, accumulating, and trading over the past few years. One would have to be blind not to see a pretty convincing correlation there. I did not find a bitcoin specific hype cycle issued by Gartner but given that the hype around Bitcoin was leading the somewhat delayed blockchain hype by at least six months if not a year, it’s rather interesting to realize that Bitcoin must have been pushing past its own peak in the Gartner cycle way ahead of the its market peak in early December of 2017.

I’m not surprised there would be a significant delay between max hype and valuation, because that seems to be the nature of things. And once you start to recognize the underlying characteristic of a hype – pure greed mixed with unbridled optimism, it actually becomes quite easy to pin a bubble when you see one.

For there is nothing truly new under the sun. To make that point here are some seminal thoughts posted in Fortune magazine in 1996 (several years before the big 2000 dotcom crash) in reference of the 1929 crash, and by none other than John Rothchild, one of the direct descendants of Nathan Mayer, Freiherr von Rothschild the person who probably stands as our archetype of evil speculation:

JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good, a theory also advanced by Bernard Baruch, another vested interest who described the scene before the big Crash:

“Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day’s financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929.”

Are we at the same fatal stage in the market today, when people who aren’t expected to have stock tips have stock tips, including hot dog vendors, shoeshine boys, the homeless, pedicurists, barroom dancers, toll takers, and the trumpet player at the racetrack? Will stock prices fall off the cliff under the weight of enormous popularity?

And as we all know today, yes – they would and then some.

Out Of The Ashes

Now what follows the bust is usually a sobering period of normalization and I mean that in a very literal sense. After the hype and the ensuing loss (monetary as well as public attention) what usually remains is the true potential of a technology or idea. Which then either is abandoned, displaced, and forgotten – or it serves as the fertile ground that feeds into the rebirth of the Phoenix, but this time with slightly trimmed feathers, and a height ceiling 😉

Whether Bitcoin and crypto in general will be heading into a more sustained long term future of course remains to be seen. I personally hope it does as I, despite my nefarious personal disposition and obvious character flaws, see a true benefit in the direct unfettered global exchange of financial value and information. And somehow I have an inkling that I may not stand alone.


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.
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BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
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LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c

  • HD

    GM Mole, all. Nice blog today. Luckily we nailed the BTC crash right here-in real time!
    Now it’s a chop fest, everything is a scalp.

  • https://evilspeculator.com Sir Mole III

    Yes – yes we did! 🙂

  • Ian Naugler

    This is where we earn it! Here’s some light reading to remind everyone why we HODL Bitcoin and only Bitcoin, the other coins will implode in their own time.

    https://hackernoon.com/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

  • HD

    $SPX, the 2731 inflection pivot traded…again….globex 🙂 10 handle rally found new sellers this morning. BOTs. Need some selling below 2700 IMO to get things started. Buyers have controlled 2700 so far, all month.

  • https://evilspeculator.com Sir Mole III

    I don’t HODL, I just buy what looks like may go up and I sell what looks like it may go down.

  • BobbyLow

    “The more things change, the more they stay the same,” Jean-Baptiste Alphonse Karr 1849

    Great write up about Bitcoin Mole!

    In a relatively short period of years, we’ve seen Tech Mania, Housing Mania, Bitcoin Mania and overall Stock Market Mania. I believe that History is the best teacher and Cycles will never change.

    Starting a new week and this morning I re-shorted 1/2 position XLE via ERY, opened a new short in Nutty Gas via /QG and am still holding Long Wheat.

  • Tomcat

    Let’s see if this move in bonds has any legs.

  • BobbyLow

    Saw your move on Friday. Nice one. 🙂

  • daverg

    nice write up

  • HD

    PUSH!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    he’s got moves like Jagger.
    😉

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Tomcat

    Too early to celebrate ;). But you should be congratulated on Wheat. Looks like its breaking out….

  • Tomcat

    Love it, adding to existing positions on all banks for my 401k

  • HD

    Ahh. Flat 2689

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BobbyLow

    You’re right. “It ain’t over till it’s over”. 🙂

    Wheat’s been on a hell of a run but we’ll see how much gas is left in the tank. Speaking of gas, I made my first venture into the “Nutty Kind” by shorting /QG this AM. It happens to be moving in my favor as of this moment but time will tell on this one too. Re-entering a short of the Oil Companies this morning is also working out so far this morning as well.

    Long way to the close though. . .

  • Mark Shinnick

    Emperor hath spoken..
    “The European Union is in an existential crisis”

    https://uploads.disquscdn.com/images/83042c367a71653b5969307c41bfa0b2d9885d3ab2352b3b71a3d6031c02aa7f.jpg

  • Julie 35 – 25 – 36

    Break time Yes Love it ! Taking 2/3 off CAT short at 21 ema. As stated in post over weekend SPX breakout not guaranteed as the selling volume SPY was slightly greater than the buying volume in the minor consolidation and OBV a negative divergence Retained 1/3 long GLD over weekend and GLD must get above 124
    JULIE

  • Darkthirty

    Got a lot farther to go for lock limit………….

  • HD

    I’m always early… 2600 this week?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Darkthirty

    Waiting for the bounce to 2780? Noticed 3rd was primed, but everyone had bullish expectancies……………

  • Julie 35 – 25 – 36

    GG INTC Yeah the breakout point failure Yes GG NKE To Bad So Sad Were Glad The 1.414 fib extension to the penny Love it GG NKE 72.07 support and busts thru
    JULIE

  • Julie 35 – 25 – 36

    Yes GG ! DB is the canary in the coal mine
    JULIE

  • HD

    RB! Kudos on the $VIX sell thingy. That has been spot on!

  • HD

    Not me. I was definitely bearish below 2731.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Darkthirty

    Pull a line chart from march…… Wasn’t it Italy last time, too?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Ronebadger

    Really, took too long.

  • Julie 35 – 25 – 36

    I posted over the weekend charts showing SPX at a major refection point i,e, $NYSI at 500 chart and weekly chart $XVG : $SPX Charts do not lie but Wall Street does !
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    NAZ is not leading this move down, so I’m not falling for it.

    Let’s call it 2688 by close, and enjoy the day.
    [SPX]
    http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p18007751966

  • ridingwaves

    not a bad place for a long here on spx..the 100 over head on spx now at 2710 is the place of reckoning
    I wonder if some entity got a margin call being wrong direction on bond action last 5 days
    seems a bit overdone for an Italian stallion monday…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    tomorrow, ADP results

    https://finviz.com/calendar.ashx

  • Darkthirty

    Data feeds are jiggy…. We’ve all seen this before. Where’s VWAP?

  • Julie 35 – 25 – 36

    Two sayings that will live forever …. (1) Do not shoot until you see the whites of their eyes (John Paul Jones) (2) $100 Dollar Oil ! LOL !
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    (psst, it’s Tuesday)

  • BKXtoZERO

    slept in…. I figured a down move, but didn’t want to hold over the weekend. We still have a big FED bond sale on Thursday. We may be in the very late stages of correction so just being careful with playing VIX. I am more eyeing up metals for a long post EOM

  • Julie 35 – 25 – 36

    GG T the 21 and 34 ema’s and associated trend lines Love it Bro !
    JULIE

  • ridingwaves

    long on 10 yr makes sense here, plenty of auctions the following 2 weeks…seems like a bid will show up if not already

    https://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Documents/auctions.pdf

  • Julie 35 – 25 – 36

    GG Remember CSCO we short the lower high …. should be this week as the bounce to short is setting up. Of course we can go long the bounce for a double whammy.
    JULIE

  • HD

    Fair enough. Lots of distribution. Took some time.

  • HD

    BAC, got your move. Nice work.

  • Julie 35 – 25 – 36

    HD BAC is the Big Dog Always follow BAC as $BKX (Banking Index) mirrors BAC
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    depends on timeframe,
    could get a bounce on the weekly support line.
    [TBX]
    http://stockcharts.com/h-sc/ui?s=TBX&p=W&yr=1&mn=0&dy=0&id=p44911694963

  • Julie 35 – 25 – 36

    HD Nice call on the SPX inflection point I showed charts over the weekend corroborating your thesis We had it HD. Again nice one HD The E leg of the triangle now in play
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    still a crowded daily chart, dam it.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    you have to trade dollars for metal.

    so, when the ratio hits the blue, or red line – snap it up. IMHO.
    (trade Strong dollars for unloved metals)

    http://stockcharts.com/h-sc/ui?s=SLV%3AUUP&p=D&yr=3&mn=0&dy=0&id=p00808111572

  • HD

    Thx. It was lucky. (55) points so far.

    Still prefer the larger triangle. This being D for down.

  • Julie 35 – 25 – 36

    SPX IMO The E leg of the triangle now in play. Be careful being short as quite often the E leg just goes 1/2 way and reverses JULIE https://uploads.disquscdn.com/images/6d8d453f186be6532591b9c76897005685b014c6e4def94f5e997992770356a5.png

  • Julie 35 – 25 – 36

    HD It was not luck Bro … You saw it and calculated HD
    JULIE

  • Julie 35 – 25 – 36
  • HD

    Mole, drops a new VIX strategy and the VIX is up 29%. Coincidence? I think not…

  • Julie 35 – 25 – 36
  • https://evilspeculator.com Sir Mole III

    Hehehe 🙂

  • BKXtoZERO

    you got me snoozing today Sir

  • https://evilspeculator.com Sir Mole III

    Looking pretty damn bearish today – peak negative signal on the Zero was -4 which is big. Unless VWAP can be reconquered we are looking at an ugly close today.

    https://uploads.disquscdn.com/images/f6e7389257189c0c0b91eb9bc2401e222816fbcf882f5f3269b99cb514990d02.png

  • Julie 35 – 25 – 36

    Chief Did you know that Joe Kennedy was named the 1st chairman of the SEC when it came into existence.? He made a fortune shorting
    JULIE

  • Julie 35 – 25 – 36

    Back to work for awhile …. SPY volume in consolidation … IMO very important Love it !
    JULIE

  • https://evilspeculator.com Sir Mole III

    Ha!! Didn’t know that. No insider trading only for us lowly peasants I guess.

  • BobbyLow

    Took rest of profit on Wheat and flipped to short @533.25.

  • Julie 35 – 25 – 36
  • BobbyLow

    The SEC came into existence in 1934. Roosevelt realized that Kennedy knew how to screwover the markets and he appointed Kennedy Commisioner in order to put in some regs in to help stop some of the bad stuff that went on. Kennedy only served for 1 year from 1934 to 1935. Not sure what if any changes were made. And no I wasn’t around then. 🙂

    There have been over 70 Commisioners and Chairmen since 1934. I’m also not sure how many changes have been made over the past 84 Years either.

  • Tomcat

    Nice one BL, I was thinking to short at 540, but no balls.

  • Julie 35 – 25 – 36

    $OVX https://uploads.disquscdn.com/images/26857b040eb593863f43edc68918327942ee77fe005231e46741443064c76a34.png Watch oil for a bounce at the PPO10% or 20% levels above it’s 20ema JULIE

  • Julie 35 – 25 – 36

    Hi BL Nice followup on Joe Kennedy Thanks BL
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BobbyLow

    LOL, I was chicken when I got my first signal at just under 537 which I’ll probably regret if this thing reverses, goes the other way and I eat 3 or 4 points I didn’t have to eat. I’ve noticed that a lot of profit taking can go on in this thing between 2 and 2:20 PM. I’m going to give it some room but I’m not too confident in this trade.

  • BobbyLow

    And that was that. Wheat short was no longer viable for me so I got out just prior to the close for a -.37R Loss. No hopium for me. 🙂 Will take another look at it tonight or tomorrow AM.

  • Julie 35 – 25 – 36
  • nirav777
  • randomuser6789

    Likewise, the VIX is outside the upper BB. It is too early to tell yet, but at the close that would be the first step toward a VIX buy signal.

  • Ronebadger
  • BobbyLow

    Thanks Julie,

    I had a grain report sent to me everyday for awhile. It was an excellent report but the only thing I didn’t like about it was that it gave me extra things to think about. A lot of things I read in the reports didn’t match up with my charts at least on my time frame. This caused some indecision and confusion on my part which wasn’t good.

    I’m curently trading a combination of 3 Hour Charts on Wheat. One chart has After Hours that gives me 7 Candles per day and another chart is without after hours that gives me 3 Candles per day. So basically I read the tape everyday and pull the triggers based on what the tape says.

    One MAJOR PROBLEM that I still have is that I knew the tape on Wheat tightens up during the majority of times during the last 30 minutes or so before it closes at 2:20 PM. So I actually made two mistakes on this trade. #1 was that I passed on the first opportunityearlier in the day and then shorted later at a lower price. #2 was that I knew that during the majority of times, Wheat prices tighten up shortly before the close. So if I was going to wait, I should have waited until then and I would have seen that this would have been a weak marginal trade at best and I would have passed on it.

  • Julie 35 – 25 – 36

    Ronebadger Not only is the Bollinger Band important BUT As I have been charting all along i.e. 20% above or below it’s 10 ema I use $ONE:$VIX for clarity as some people have a difficult with the inverse relationship JULIE https://uploads.disquscdn.com/images/11f367b4c68abcde80a9a71b9831caaa705db3a89cac049f991d43964e1956e2.png

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    meh,
    where’s the clue?, where’s the build?, where’s the DRAMA?
    😉

  • BKXtoZERO

    I didn’t hold over the weekend, then snoozed, then even muffed an entry 2 hours ago. Not good. They wore me the hell out w/ all the crap prior to the holiday

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    back from lunch,
    here comes the Heat. (Forecast Saturday 106)

    time to eat Healthy!
    https://i.pinimg.com/originals/75/c7/59/75c7595d66ae01f49233a696f64243d9.png

  • Julie 35 – 25 – 36

    BL I understand completely Analysis Paralysis … I too must be careful with the same thing… Sometimes it is the deer in the headlights syndrome GG and I had the CSCO short and did not budge LOL ! Oh Well The real short CSCO is the lower high which we will catch. BL thanks for your insights as always. Hope you had a nice Memorial Day Weekend as we did
    JULIE

  • Tomcat

    OK, closed my L bond, and will try a lottery ticket with a short now.

  • HD
  • ridingwaves

    it’s not bad….tastes great after long hike….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BobbyLow

    Great trade on the L Bond TC.

  • Ronebadger

    It’s still growing…

  • Julie 35 – 25 – 36

    BL You know it TC Great one !

  • Tomcat

    Thanks BL, the whole talk about the summit/meeting with rocket man being back on kinda scared me over the weekend, but my Italian brethren came through big time…

  • Julie 35 – 25 – 36

    Excellent TC
    JULIE

  • Mark Shinnick

    Foxes in charge of the henhouse; a true revolving door and full-on fraud to investors protecting their own; a public-relations prosecuting of only their own-chosen targets to be taken down for public show.

  • Tomcat

    Thank you Julie. Kudos to you too, been hitting some home runs lately. Oh and Oil finally rolled over just like you predicted, but I wouldn’t put past the big boyz to take it to $100+ by end of year.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    consult your physician after 4 hrs..

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie 35 – 25 – 36

    SPX Watching mid line of triangle ; An upper downtrend line. Blew down thru one channel mid line Also mid line of triangle matches a Fib retracement level. Remember many times the E leg of a triangle will reverse at mid triangle.JULIE

  • Julie 35 – 25 – 36
  • randomuser6789

    It should be noted, we had VIX buy signals complete on Feb 1st and Feb 12th. The first was a total fail. Market crashed and burned after that. The Feb 12th merely introduced our current trading range. So if it completes in the next few days, trade it at your own risk.

  • Tomcat

    😉

  • Tomcat

    OK, that was quick, took a small loss, this tape is too strong. Stupid trade.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    2680, I don’t think 2688 is in the cards..

    I’m just going to have to let it go. (Ashi chart)
    https://uploads.disquscdn.com/images/deea81591143ef28fff71ffeea64e755393e99e990009a5467ff99c1783ccad3.png

  • Julie 35 – 25 – 36

    TC Good job Bro If wrong not wrong long !
    JULIE

  • Tomcat

    Disagree Julie, that was a dumb move!!! I should have just left it alone

  • BobbyLow

    At least you didn’t take any hopium pills with this trade. This is a major improvement. We all make mistakes. I made two of them today. I think the key is to recognize mistakes as soon as possible and get the fuck out as soon possible. Also you might want to rethink why you made this trade in the first place and remember that lottery tickets are a $1.00 each at a gas station. Lottery tickets trading the markets can be a hell of a lot more expensive.

  • Julie 35 – 25 – 36

    TC I am sure you have plenty of dry powder left.with the quick exit. TC the sun sets only to rise again . You will nail it next time TC I know you will
    JULIE

  • Tomcat

    Thanks Julie but as BL said, I need to go back and revisit why the hell I made this trade, especially since was not based in my system but pure lottery.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    not stupid. if you followed a plan, the plan failed, not you.

    “Next Thousand Trades”.

  • Tomcat

    Just a quick observation, wouldnt it be nice if SPX drops to around 2610???
    http://schrts.co/oiiaE7

    Just saying….

  • HD

    Sometimes the VX is the best trade. +40% and will lose it faster than you can spell crush

  • Tomcat

    I don’t know if lottery is a plan or just pure stupidity

  • Tomcat

    Why so cryptic??? Dumb it down for us peasants

  • Julie 35 – 25 – 36

    Exactly GG A trade is never wrong if you know why you made the trade. Only wrong if you do not know why
    JULIE

  • BKXtoZERO

    Yup…. just lay low, and get even one of these and it beats toiling for small moves elswhere

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    *BINGO*

  • https://evilspeculator.com Sir Mole III

    NOT a divergence if BOTH the signal and price paint a higher low.

  • Ronebadger

    Shrinkage now…

  • https://evilspeculator.com Sir Mole III

    I think what he’s trying to say is that more information does not necessarily produce a better trading outcome. I’m a purely technical trader as most of that stuff is way beyond my pay grade and thus only serves to confuse me. Plus unless I intimately understand a particular market segment I will most likely draw incorrect correlations/conclusions.

  • https://evilspeculator.com Sir Mole III

    The magnitude of implied volatility is positively skewed.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    tomorrow’s the big show.
    whether today was the preadjustment, or the non-adjustment, or mal-adjustment..
    I dunno.

  • HD

    If volatility rallies huge all day there is often a counter move into close. It’s not cryptic. I’m just not a fan of saying short this now. Better to make you’re own trade based on what you see.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • HD
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • https://evilspeculator.com Sir Mole III

    You’re going to base an entry on that?

  • Julie 35 – 25 – 36

    Hi GG 3 possible patterns (1) A breakout and new highs (2) A double top (3) A cup with a handle forming which needs a pullback now to form the handle
    JULIE

  • Julie 35 – 25 – 36

    USO looking for a bounce (1) price support (2) 89 ema (3) lower trend line Oversold The bounce will be to a lower high to short Refer to $OVX chart below https://uploads.disquscdn.com/images/06107a215feefef59eaabb616573bcc2c0663963c43fa7155732fec8c553dc76.png JULIE

  • Julie 35 – 25 – 36

    USO Another chart USO could go lower to intersect a lower parallel channel ; lower price support and the rising 144 ema JULIE https://uploads.disquscdn.com/images/155964107fa3076df728dccf79389b6260647b51d28aedb82934297bde7a2265.png