Many folks are having their last kicks with the kids and the sunshine before we hunker down and get back into the grind of work, school, and fall. The market is behaving similarly, lingering up here at annual highs is a low volume float the likes of which occurs when very little gravitational pull exists.
This is price discovery, up like a balloon, down like an anvil.
The opposite is where the markets are the rest of the time, balanced, with a violent act of tug-of-war taking place throughout the day.
On these hot air balloon rides, less is more, the view is splendid, and there are only a few pieces to monitor as you enjoy your coffee or whatever else it is you do with your time.
I have done little today except buy some MBLY calls dated for September, the month we really go back to work.
The rest of my book is very long but not achieving targets just yet. I will wait for said targets, even if it means taking on a hedge either today or tomorrow.
These are my only thoughts for you today, loyal readership. The After Hours with Option Addict crew and I will be blowing the book open this afternoon and all week, digging into the fascinating topic of Market Profile. A little summer school warm-up before these markets get serious again, if you will. There is still time to join in. Please do, I promise to make this simple topic fun and engaging so you can add it to your trading repertoire.
If I hedge, it will be with TZA, and I will let you know.
If you enjoy the content at iBankCoin, please follow us on Twitter
Looking forward to your week discussing Market Profile. Looks to be another great educational topic inside After Hours.
awesome, glad you could make it
looking forward to being able to add this skill set to the arsenal – thanks Raul
oh yeah
excellent session this evening. i can’t even begin to think of the gains (and brief losses) when armed with these techniques. rock on!