Everybody...
... I speak with tires of this volatility, and quickly so. This action is a war of wills between those hedge funds whose mandate is to purchase breakouts and sell breakdowns vs other hedgies who fade both breakouts and breakdowns. The result? No trend of lasting significance.
But today's intra-day volatility takes the cake. It is interesting to note that, as the whipsaw action rights itself, not every market follows perforce. For example, the opening saw:
Up: stocks and bonds
Down: US$ and oil.
The initial whipsaw was for each trend to reverse these moves... But now, as things settle in, not all the markets follow lockstep with each other as they had been doing. Interesting - and notable. Traders, and in particular day-traders, can find gold in them thar hills...
But today's intra-day volatility takes the cake. It is interesting to note that, as the whipsaw action rights itself, not every market follows perforce. For example, the opening saw:
Up: stocks and bonds
Down: US$ and oil.
The initial whipsaw was for each trend to reverse these moves... But now, as things settle in, not all the markets follow lockstep with each other as they had been doing. Interesting - and notable. Traders, and in particular day-traders, can find gold in them thar hills...
posted by David M Gordon | 9:49 AM
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