Volatility Wave Surfing
Volatility Wave Surfing
It’s that time of the month again and you know the drill. While the MSM is waiting with bated breadth to receive the announcement of the FOMC we hunker down and let any big volatility waves wash over us:
So unless you are prepared to be smashed against the rocks stay out of the water.
I don’t know why those wankers always have to schedule this in the middle of the day. Let’s get it over with at the open so that we don’t waste a perfectly good trading session. Does it take that long to get Mrs. Yellen camera ready? Enough said…
As I’m not completely useless here’s some context. The spoos would be a good entry near the 100-hour and 100-day SMAs which are now correlating. My kind of setup but it’ll have to wait until later this afternoon.
The NQ’s inflection point is 4550 as you recall – we’re just below it. I’m actually surprised this one didn’t take off yesterday – it’s usually the most bullish. Yes, yes, I know what you’re thinking….
And so that you don’t think I’ve gone complete bulltard on you guys here’s the YM which is a delicious short below 17524. Only problem is that if there’s some FOMC surprise announcement we won’t be able to get in.
“Some people are paying attention to the FOMC, but I don’t expect specific reference (from the FOMC statement) about a rate increase this time,” said Ishizuki, noting that the Federal Reserve probably won’t put all of its cards on the table at this stage, avoiding running into an impasse.
“They don’t have to disturb a sleeping child,” said Ishizuki.
And that, my dear steel rats – is all you need to know about the financial media. And how they view market participants. Ignorance is bliss I guess – and you sleep better!
See you guys post announcement.
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Cheers,
