We’ve all been there – making a call and being wrong.
I’m eating crow on Nvidia, but that's trading. Being wrong is part of the game.
This week brings us Triple Witching – that time when stock options, stock index futures, and stock index options all expire on the same day. This Friday, June 21st, to be exact. With the market closed Wednesday for Juneteenth, it’s going to be a wild ride.
Last week, the S&P 500 saw a 75-point swing. This week, it’s pricing in a 61-point move over four days. And guess what? We’ve already chewed up 41 points in one session.
Typically, during Triple Witching weeks, the market tends to drift higher. This happens because traders roll their positions, and market makers buy to balance their risks. It’s a bit like watching dominos fall – one movement triggers another.
But here's what caught my eye: there's a rush back into the Dollar. Normally, this isn’t great news for stocks. But it could be a hedge, so watch for signs of stress.
Right now, the path of least resistance is higher. Yet, a few mega tech stocks are dragging the indices up. It’s like having all your eggs in one basket. If everyone tries to exit at once, it won’t be pretty.
They’re setting the tone, but the broader market health isn’t as rosy.
Also, with summer in full effect, it's a tough trade to fit the tape here. The path of least resistance is higher. But there are issues that the market is ignoring. It’s when you least expect it that things start to matter.
Good trading, and remember – rent's due.
Josh Belanger
I am betting that the more ideological investors are huffing and puffing to blow the BRICS house down. Frankly, they will run out of huff before BRICS run out of puff and, anyway, how I read it, they are fighting evolution. Exploitive capitalism and its military enforcement machine must either be stopped or we all stop.
As Lord Acton observed, using the word "corrupt" in the 1880s context of "madness"; (ie "power drives men mad") and today referring to psychopathy; we can all see that the world is currently being run by megalomaniacal psychopathic plutocrats and oligarchs, and that not only humanity, but life on this planet is seriously threatened.
Incidentally, i am not referring to the infantile hypothesis of AGW, but nuclear war and the exhausts of satellite rockets that threaten to destroy the ozone layer within three or four years. Not one authoritative regulator is monitoring this and some scientists are starting to panic. I don't blame them. A missile war would accelerate the crisis by 50%, plus the radioactivity, chlorine gas, and heavy metals dispersed across the northern hemisphere.
I suppose this is why TV stopped making serials.