“The current mood of anybody trading anything Cable related!”
“Hello Houston? … yea, we got a problem”! … and so it goes in the FUBAR
land of FX, as the “Brexit” manipulators got the upper hand today … man is
this ugly!
It started out last night just as ugly, cuz within 2 minutes of the open Cable
rocketed up over 100+ PIPS, thus destroying any call spread strategy quickly
… granted, premiums were very expensive, and I wouldn’t have
recommended anything anyway, but this just adds to the uncertainty … and,
I’m not sure today’s vote later will mean anything anyway … they keep
kicking the can down the road to the next drama point endlessly, and have
done so for almost 3 effing years! … “hey, why stop now”?
Oil is so dead volatility wise, that even today’s attempt by the Saudi’s to kick
start [a/k/a bribe, cajo, or coerce] price upwards failed … and failed
miserably … hell, crude doesn’t even have an 80 cent range today! … with
high call spread premiums in this complex, good luck with any strategy that
doesn’t bleed premium all over you … as I said yesterday, crude is not an
option up and until the 20 Day Range MA can stabilize and then turn higher
… until then, fugetaboutit!
One big problem today for NADEX, is that all their FX pairs expire at
3 PM EST … hell, the “Brexit” vote doesn’t happen ‘till 4, so a big part of
any surprise outcome will miss NADEX call spreads completely … and by the
way, this is by design and not coincidence, since the biggest [and probably
only] market maker at NADEX is their frickin’ parent company IG, Plc. out
of London, and thus never wants to get stuck anything near any market
close.
So, we’ll see what happens later today … premiums tonight most likely a
complete joke at the open, priced so high you’d need a 200+ PIP move to
make any money … and while it’ll probably happen, that’s a lot to ask for
just to get back to the starting line.
-vegas
WTI CRUDE OIL SIGNALS & “VOLATILITY” STRATEGIES
IN 20 OTHER MARKETS, INCLUDING COMMODITIES, FX,
& STOCK INDICES! … “what on earth are you waiting for”?
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