Lazy Tuesday Rub Down

I swear – this market is being run gangsta style – observe:

Zero activity (pun intended) today – everything flatlined as if the boys ran a West Coast style hit & run yesterday and then disappeared again. After the futures touched VWAP on the ES and the NQ at the close the usual suspects are driving it higher after the bell. Rinse, lather, repeat.

As I said in my previous post – not a great day for the bears – we really needed a bit of sell off here and this leaves us with not much to work with. And as trend traders will tell anyone willing to listen: Unless the trend changes ther is nothing to talk about.

Program Trading Update:

geronimo/ES: +5

Eric and I had a little chat today and now that we got things stabilized and migrated to a new platform we are planning to add a VIX filter to our rule set, which will help us identify sell off days. Either we don’t trigger long trades during those sessions or we might actually go short. We’ll have to thoroughly back test things on our end before we would implement the latter however.

Berk actually wrote a new part in his trend trading series and it’s great stuff. So I’ll let this post sit for an hour or so and then publish his, so stay tuned.

Careful, this is more painful than today’s tape.

Cheers,

Mole