And thus ends one of the most painful chapters in the history of spec positions gone horribly wrong.
Day: July 21, 2017
‘There Aren’t Many Things That Irritate’ Me More Than ‘Mindless Vol. Sellers’: Pirate
“There are few things more irritating to a macro trader than trying to scratch out directional returns in a static market as “mindless” vol sellers garner easy profits through a willingness to ignore risk.”
A Total Return Chart Lesson
“The problem that arises is that most traders look at charts that simply ignore this fact. When a new contract takes over as lead month, they simply flip over to the new contract.”
DAX VIX Soars As German Stocks Plunge Most This Year
…when you combine that batshit crazy scenario with the new report on automaker collusion and a surging euro, what do you get? Well, you get the worst day for German equities this year.
Sean Spicer Resigns
SEAN SPICER RESIGNS AS WHITE HOUSE PRESS SECRETARY
Undercutting Mueller: Are Trump’s Lawyers Abandoning America?
“They may be right. But they may not be as well.”
That ‘Throw Away Line’ Was Not, In Fact, A ‘Throw Away Line’
“That throw away line, that people came to expect and then ignore, was very likely to have been delivered with serious intent and forethought.”
German Stocks Dive; Volkswagen, Daimler, BMW Plunge On Collusion Report
Look out below – the DAX is in trouble, down some 1.5%.
And I’m going to go ahead and assume this isn’t helping…
Here’s A Market That’s ‘Unambiguously Stretched’
“Despite overall mixed macro data and the failure to pass health care legislation in the US, spreads on virtually all indices have converged back to their post-crisis tights.”
Oil Suddenly Dives As Oil Tanker Tracking Company Throws Cold Water On Bulls
“I’m surprised that people didn’t already expect higher OPEC output.”
Aussie Plunges Most Since May 3: ‘Two Birds, One Stone’
“Debelle smashed two arguments in one sitting. Two birds, one stone.”
Is This Really What Reagan Would Have Done?
“Concessions without reciprocation, made against the better judgment of foreign policy advisers, smack more of payoff than outreach. If this is what Trump’s version of “winning†looks like, what might further victory entail? The re- creation of the Warsaw Pact? The reversion of Alaska to Russian control?”
Key Calls (Friday): Upgrades, Downgrades & Initiations
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