You don’t ever really know, but tomorrow is shaping up to be worse than today for
any kind of trading action … jobless claims highlight the econ stats agenda,
coming at 8:30 AM EST, and any kind of significant miss from expectations gets
FX spirits jumping … we’ll see … and after that it’s “hurry up & wait” for Friday’s
fairy tale NFP number … and then it’s on to the FED interest meeting on DEC. 12.
And I woke up this AM and see USDJPY went over a waterfall, and without even
looking I know it’s some Apparatchik in government that made some comments
that did the damage … and sure enough … the “Thelma & Louise” made worse
by long standing sell stops underneath 146 from the heavy position players
… everything else on the board might as well be closed … crypto drifting
slightly lower after massive gains.
The PAMM will start getting involved in USDJPY, once the NFP horseshit is
out of the way … not that “horseshit” is confined just to the NFP, as in USDJPY
today just your average 570 PIP waterfall to the downside … can you say
“sell stops?” … and what’s truly amazing, is that with the very heavy downside
action in USDJPY, you’d assume there would be discounts in the
IQCENT / COINEXX “basis” trade, right? … well no actually, cuz going down
it was almost nothing but premiums … just guessing, but I’d say 85% of the
time 2 - 5 PIP premiums, and only about 15% of the time did discounts actually
appear … a little higher discounts when TEMA was OVER SMA … there just
hasn’t been any real waterfall m1’s to the downside to get a nice fat discount
trade, until that afternoon “”gut buster” just after 1:30 PM EST, that saw 200
PIPS DOWN in 2 m1’s … “yup, I see it, and at this point I’m leaving it alone
… too late in the day with scumbag NY banks being the only liquidity in town,
and that ain’t a good thing … rally 500, drop another 500, I don’t care!" … even so,
there were still quite a few “arb scalp” opportunities … “The Syndicate” with
multiple buy side “arb scalps” and we’re UP ABOUT 0.4% on light pre NFP
volumes … until tomorrow.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
No comments:
Post a Comment