“Yes, as in all markets died today!”
Protest culture is a sham & a scam … just look at the Covington kids and
think financial markets … is there any difference to what is manipulated and
held out for truth? … “No not really”.
So for whatever reason, everything on the board decided in unison to die
today … GBPJPY was not spared, and has resulted in the lowest range day
in quite a while … December 18, 2018 to be exact … from a volatility
standpoint, it was simply a slaughter … well planned, well timed, and
delivered by the scumbag LP banks.
I did a volatility trade in GBPJPY … bought the call spreads at 66, which is
a very good price given recent ranges and the 20 Day Range MA, but when
your long volatility and there isn’t any … literally none … you lose, simple as
that. I liquidated at 47, for a loss of 19 PIPS which isn’t the end of the world,
and a lot less painful than either being long or short the actual market and
getting whipsawed. The trade tickets directly below.
I’m a little surprised at today’s action, and later in the day I was following
crude oil before the oil inventories report was released, and the problem for
me was the fact that there weren’t any good call spreads to trade that had
floor’s near market price … after the inventories report, the closest to a floor
was about 80 cents, and then proceeded to rally over a dollar … so where’s the
limited risk like we had yesterday?
Onto tomorrow which is Friday, and given today’s very sluggish market
atmosphere, I’m thinking tomorrow could easily be worse … it’s going to take
a very good spread quote to get me into GBPJPY overnight … I just don't see
any volatility going into the weekend. And indeed, if that’s the case I’ll look at
crude oil tomorrow for some algorithm trades.
We’ll see what tonight’s open brings … until then mi amigos
… Onward & Upward!!
-vegas
OUR NADEX SIGNALS SERVICE IS UP & RUNNING … DAILY
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