This has been happening since Friday really. Can't stand it when the market continually makes intra-period highs and lows (kinda of like a cheerleaders cone). Right or wrong; it destroys my risk parameters, and thus my trades.
sorry stepped out...kinda boring day. the tone is bearish...got a hint of it since last nights AH trading. but before nfp..or fomc I don't short unless significant premium.
what've noticed over the years, if weather is good, markets tend to be optimistic, and if its dreary, pessimistic. so just imagine all the financial employees heading to work in the morning, and how weather affects their psyche. lets not forget chicago...
most things in the universe are cyclical.... periods of uncertainty about the future give way to certainty...periods of pessimism give way to periods of optimism..though the media is plastered with news events of foreclosures or banking crisis, I have yet to see it in day to day affairs. positive measures seem to be underway in terms of plans to freeze mortgage rates. GDP and unemployment figures are still relatively strong. I would like to see the equity market fall apart, to buy in cheap before the next macro leg up, and I think most are waiting to do so too, ...it may not happen, and prices might crawl upward each month, forcing people to pay a premium.
Amazing because someone posted at 1008 or 10:08 PM an ES position and now it has been miraculously deleted. I guess if it is a losing trade, pull it before someone sees it..
..what do you think the probabilities are we traverse the NFP and FOMC volatility without touching 1490...again. ..I think Atticus might know some pricing on that. I put the probabilities at 5%.