Who cares, so long as he's right? It's about making money. the Fed has backstopped the market (at least until official QE expires month end). There's no risk. What, Greece? Haha...
It is already semi-impossible. I take no positions after 11am, and well have some savings from the previous years,and like many daytraders i know we are surviving on that. hopefully that dosent run out before liquidity comes back
Don't worry about it too much. Like us, all the big boys also have to make money, and they don't make money unless they trade. It will all come back in a few days/weeks. Until then our job as traders is to not get killed in the chop. Be available when favourable market conditions come back. That's all.
Alternatively we can look into other markets, e.g. CL, GC, ZN/ZB or euro, although I don't know what the liquidity situation is in those markets. I might start looking if this carries on for too long in index futures.
Look at the bright side. If the market churns up on sh1tty volume, that can only mean the mother of all falls is just round the corner. be there when it comes.
Margins still at crash levels: $5625 overnight, $4500 manteinance. Volatility down, market up since early 2009, but margins still the same.
if u look at the 70's to early 80's period, there was a churn extrem low volaility period that lasted abt 8 yrs or so
ring, ring. Broker call client: Broker: "I got good news and I got bad news. Which do you want to hear first?" Client: "Tell me the bad news." Broker: "You got a margin call to cover all your shorts. Your account is wiped out." Client: "What is the good news?" Broker: "The short covering rally was on low volume."