Trader: ‘I Don’t Know How Else To Say It – It’s Different This Time’

“As I struggle to find the words to communicate my thoughts, I worry they will be misconstrued. Yet I don’t know how else to say it – except to blurt it out. So at the risk of being labeled a fool, here it goes – it’s different this time.”


You’re Not Panicking Enough Yet.

Or, put differently, how much would it take to break the spirit of market participants who have been conditioned, Pavlov style, to buy any dip no matter how small?

Ray Dalio’s ‘Pretty Stupid’ People Are The Only Ones With Real Positive Returns In 2018

“If you’re holding cash”…

‘People Were Laughing At Us’ – How One Fund Made 8,600% On ‘Vol-pocalypse Now’

Then they went skiing. 

End of story.

How Much Did CTAs And Risk Parity Sell During The Friday-Monday Bloodbath?

There are lingering questions.

The Psychedelic Swan Moment And Retail’s Volatility Addiction

…that was a 23-standard deviation event. I’m not sure what color swan that is – maybe psychedelic?

Good News! VIX ETP Rebalance Risk Really Isn’t A Problem Anymore!

In that same kind of way where that festering hornets’ nest in your garage isn’t a problem anymore…

Seth Golden Doubles Down After XIV Blowup, Bets $600,000 VIX Will Fall

“I was up until the wee hours, checking my phone to see where VIX futures were trading.”

Cold Turkey: ‘Quitting The Low-Vol. Addiction May Be Painful’, One Bank Warns

“The market’s addiction to low volatility may be even more severe than its addiction to low rates.”

Why Cboe Is Plunging: ‘Retail Investors May Not Be Too Keen To Trade Volatility Anymore’

“We suspect the retail investors that have been wiped out by this trade may not be too keen to trade volatility going forward.”

Cboe Plummets Most On Record Amid VIX Fallout

The fallout continues.

Trader Asks: Was That The Greatest Squeeze In Market History?

“It seems like just yesterday the overly confident bulls were openly taunting any market participant that dared counsel about the increasing risks in the equity market.”

Credit Suisse Pulls Plug On XIV – The Black Swan Has Landed

It’s over folks.

The Demons Were Real: Monday’s VIX Carnage And The 13-Sigma Event

And so, legions of retail investors, hordes of previously cock-sure newly-minted “money managers”, and scores of popular pundits who swore to you they knew what they were talking about, are left to ponder the stark reality of a market structure-driven nightmare scenario.

VIX Explodes To 50. That’s ‘5’ With A ‘0’ After It.

Good luck, we’re all counting on you…