True to form Draghi decided to go out with a big bang. More QE, more asset purchases, more whatever it took to secure his final legacy of kicking the can down the road and having burdened Europe’s citizens with trillions of Euros in debt never to be repaid. Thus further hollowing out the middle class and assuring increased polarization between the haves and have-nots. Job well done and we can assured a plethora of lucrative board seats await.
I came across a very interesting article this morning which argues that the proliferation of quant trading in combination with QE and a flattening yield curve over the past decade has largely favored momentum stocks to the detriment of value stocks.
Not playing a word game actually, turns out my VPS hosting provider is experiencing a network meltdown this morning and thus I’m unable to log into my NinjaTrader setup. So I switched over to my TOS installation which is also configured as an emergency backup. The data feed is not as precise but it’ll do in a pinch. Rule #1 when it comes to running a trading business: Always expect the unexpected and that at the worst possible time.
With the summer vacation season more or less behind us we are starting to see directional movement in several major verticals. Equity futures finally managed to burn through overhead resistance, and notwithstanding non-stop bearish reporting in the financial MSM, are heading toward a retest of their all time highs. So if you were trading the per news last week you are going to feel it in the groin region come the opening bell.