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Happy Sunday.
Just a quick outlook for this week as to what I am looking for and general thoughts on the market.
I think everyone is expecting a bounce in the markets, but I am not sure that I believe it just yet.
I've read a lot of data and looked at a lot of charts over the weekend and the best thing I can come up with is to wait to be short VOL and another duration based trade.
Now the short volatility trade is not quite there yet, however, the VIX curve, when it resets is going to hit hard.
Buy & Hold:
I don't want to discuss this. I don't think this is the time for that at all. Markets are scared right now and there are some market structure issues happening.
This is 100% a trader's market. It either requires quick options trades or futures trading, nothing more.
What do I plan to do this week?
Trade futures and wait for the Volatility short, whenever it may be. I know some of you degenerates have the itch to trade, I can see it from the emails I've received and texts from friends.
Look, do it at your own risk, but this is not the time to be messing around if you don't know what you're doing. Period.
I traded in 08/09 and this is way worse and it's hard.
The rest of the items I wanted to discuss I covered in the Friday post.
In the meantime, if you want to join the Premium Sub, its $5 for a 10 day trial.
If you just want in the general room (no charge) email tradewithx@gmail.com or send me a message on Twitter here.
Remember, you either doggy the market or the market doggies you
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