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“Traders Have Lost Confidence In Their Ability To Trade,” Trader Says
Things should have been worse on Friday for markets. Probably a lot worse.
But Tuesday aside, you get the feeling that everyone is so traumatized by the tendency for bouts of volatility to quickly "mean revert," that no one wants to make the trades they know they should be making.
Recall the following chart:
(BofAML)
Put simply: BTFD has become so deeply entrenched that vol spikes catalyzed by what should be viewed as exogenous shocks with far-reaching consequences (e.g. Brexit, Trump) a
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