Sine Wave Monday Rub Down

I hate to be right with these things but as I’m typing this the futures are blasting higher – ES already at 1007.25. Hey, that’s what $6.6 Billion in POMO funds buy you.

I could have probably been doing better on the trading end today – as you know I cut my puts before I was heading out around ES 1006 and didn’t enjoy coming back to a 6 point drop. However, it was clear to me that we would rally into the close and I positioned myself accordingly.

Quite salient today was the absolute lack of participation in the futures – we got that early upside spike bestowing us with a gap fill and then nothing all day, even into the close. This is type of tape that scares me and I wasn’t bashful alerting my Zero subs to the fact that they should be on guard for a late day rally.

Program Trading Update:

evil.rat/ES: -.75
evil.rat/NQ: +3.25
resident.evil/ES: +0.5
resident.evil/NQ: +4.25
geronimo/ES: + 2.5 (the old faithful)

Please review the disclaimer.

I swear, Mike Steinhardt looks and talks just like my father – even has the very same mustache! Must be a German thing – LOL 🙂

4:32pm EDT: This is why I always keep a healthy balance in my accounts – haven’t had an overdraft fee in a long time. You would think that the vast majority of people in this country would be against this, right? So how come the banksters keep getting away with this year after year? If people (call them consumers or citizens) in this country cannot even rise up against such an obvious case of usury then do you really expect any real regulation of the financial industry to ever take place? Yeah, maybe once we touch 400 on the SPX – but until then – don’t get your hopes up.

Hey, wait a minute – isn’t this a great example of the type of practices that the Obama administration promised to put an end to once elected? Have there been any significant changes/regulations in the past 200 days since he took office? Please name one – because to me it all looks like the same old status quo.

Cheers,

Mole