THE LOCUSTS HAVE ARRIVED

“Is it too much to ask to make an honest market!?”

I feel like the locusts have finally arrived to destroy financial markets … the 

only thing left before I throw my laptop into the ocean, is if all the water turns 

red … at that point I fear, trading may not matter anymore … and it sure feels 

like that’s where we’re going.

Is it too much to ask NADEX to make call spreads that make fucking sense? 
… do they always have to be 400 miles apart, from floor to ceiling? … is it 
possible to get your lousy ass market making parent, IG GROUP, LONDON, 
to make honest markets without “vig” that would make Vito Corleone blush 
with envy? Cuz if you look today at things, it’s a supermarket of bullshit that’s 
being offered up to traders. In other words, today we got Mr. Jack Squat for 
choices in GBPUSD & GBPJPY, without bending over and grabbing ankles 
for the privilege.

Oil for its part, putting in the obligatory sub range up/down, screwing traders 

via the “Flying Wedge of Death” [FWD], all the while raping premium on the 

turns … again, until oil starts to become more actively traded and the 20 Day 

Range MA starts to rise again, we simply have to leave it the hell alone or we 

get visited by Sil & Paulie on Tony’s orders and get whacked.

And now that the next, all important “Brexit” vote is out of the way, the 

staggered call spread premiums in GBPUSD, that I was watching most of the 

morning, have totally collapsed … even though Cable quickly dropped 50 

PIPS, all that happened is that the call spreads flipped sides on the profit, but 

the premiums built into the equation have been brutalized … from the 50’s 

down to the teens, just like that … now you know why I didn’t recommend 

anything going into the vote … it’s a suckers play 99% of the time, and if you 

sell it instead, that other 1% kills your account, so no way to win here.

Onto next week … I’m outta here … Sunday night sees the blog update 

… until then mi amigos … Onward & Upward!!

Have a great weekend everybody!
 

-vegas

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