AN HISTORIC DAY [I THINK]

 

“How did that work out for you General Custer?”

For the first time ever, and I won’t lay book it’s a 100% certain slam dunk 

… but since I’ve been around since they opened the doors for stock indices 

trading, I don’t ever remember a “triple reversal day with range” in the 

DOW30, but we got one today. And since there still are about 90 minutes to 

go, who’s to say it can’t be a “quadruple reversal day with range”?

Here’s what I do know, though … this shit is “off the charts” when it comes to 

intraday volatility … my M1 candlestick chart has a 20 point grid, and almost 

every single M1 in the day has a range of at least 20 PIPS … literally one 

millisecond late to the buy/sell button, and the slippage will make your eyes 

water.

With approximately 90 minutes to go in this total FUBAR, I want no part of 

any of the shenanigans the scumbag bank LP’s got in store for the last hour 

and a half … don’t count out new highs and new lows … “why not, every other 

measure of “tail risk” has been seen”? 

Seriously, I don’t even know where to start with this crap, other than to say 

the “second to second” price action is the most violent I’ve ever seen … “hell, 

even during the October ‘87 crash, pit conditions weren’t this bad … now, 

though, we got scumbag LP banks, and they’re taking full advantage of the 

market chaos to fatten their wallets by handing out slippage like Halloween 

candy … I sit here and wonder how much more this market can take in 

disjointed trading conditions before it simply breaks … How bad is it? … in the 

last 1 hour and 20 minutes we’ve had 6 … yes, count ‘em SIX … moves 

up/down of at least 100+ points each”!

A bunch of trades today … Pamm down very slightly, about $40.

One of my trades today had a 30 point slippage fill … and it still was a 

profitable trade! … “you want FUBAR? This shit is FUBAR … one of the 

most difficult days ever in keeping “risk” under control … an almost impossible 

task given the second-to-second action, with many M1’s with 50+ point ranges 

… get caught the wrong way in that, and you’ll soon know what was going 

through Custer’s mind at Little Bighorn”. Still, given the nature of the day, 

going forward I’ve got a decent handle on how to trade this shit when 

volatility goes exponential. 

Another day, where I feel like losing $40 is a complete victory … never mind 

the shit fill that cost us $150, that’s the nature of the DOW30 beast during 

times of extremely high volatility … complain to anybody, and they’ll laugh 

at you while showing you the door. 

Again today, I’ll have the PAMM spreadsheet posted around 6 P.M. EST and 

treat it as an update … I simply haven’t had time, here in the late afternoon, 

to do the spreadsheet.

No worries going into tomorrow, which should be a ”barn burner” … inflation 

data, end of month, end of Q1 2018, and a 3 day weekend to boot … from a 

volatility perspective, what could possibly go wrong? In any event, I’ll be here 

to tame the fire breathing DOW30 dragon. Until tomorrow mi amigos … I’m 

outta here … Onward & Upward!!

UPDATE 5 P.M. EST: PAMM spreadsheet directly below.

Have a great day everybody!

-vegas

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