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The week that was

I have to say this was one of the craziest weeks I have witnessed as a trader. Certainly this is the craziest since 2008.

We saw:

The SPX drop 86 points at one point dropping over 7%.

What a Day

I do not have time to fully address what happened today. Here are a few quick thoughts:

1.

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2010 and 2008 $imilar? Part 2

Yesterday we went over the similarities between the 2008 and the current financial crisis. I think there were a decent number of similarities.

2010 and 2008 $imilar? Part 1

Since the beginning of the Euro Zone crisis I have heard experts up and down try to make parallels between the end of 2008 and what is currently happening in the market place.

Can both the long and short win?

Right now it is a great day to be long gamma. It is also a great time to be short gamma. How can that be?

$PX and rest of market sell off

I had a client call me this morning and ask a very simple question:

Is this the beginning of a major sell off or is this fear of the weekend.  My answer: maybe both, certainly the latter. 

Taking on the $kew!

The market continues to have a nice intraday and interday range.  Even if it is going up and down to nowhere.  With implied volatility at current levels though, I think selling vol makes some sense. 

SPX goes UP UP UP

I was asked to describe the market to a friend today and the best analogy I could think of was the "Itsy Bitsy Spider.' The SPX, while it did have a huge day Monday, seems to be on a constant slow cli

Breather, a time to reflect

Traders, last Thursday was a huge down day, but, in retrospect would have only been about a 7.5 on the crazy market scale if not for the botched P&G order.  The SPX probably would have given away

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