At the current time Asian indices are beaten down, but US futures are only slightly down. Japan’s Kuroda said he would ramp up production on the printing presses, going “Full Kurosawa” on Japanese equities, making everyone notice. Meanwhile, across the Sea of Japan and the South China Sea, indices are getting attacked by rabid Vikings, armed with sequestration and the Chinese making mortgage rules more restrictive.
Pain and suffering. US futures are barely down, but how does Europe react is the question right now? That could really be the tell of how we trade, but of course, it also could not. I was really bullish on this week with the news that Japan was planning on printing more, and that the President had hired a lady from Wally World to keep his books balanced. Instead, here we are teetering on disaster again. We have no clue what effect the sequester is going to have on US markets, or what effect it and Asia will have on Europe, and Europe’s correlation with the US. It just seems to be changing constantly.
I rarely find myself going to bed “knowing” how the market opens in the morning, this is definitely not one of those nights. To help myself sleep a little better, I read @chessNwine ‘s Weekly Strategy Session, here, a paid service either by itself, or as a component to the #12631. Trying to pick winners in this implied tape is going to be tough, but maybe my man @mr_cardan can recoup some of his losses from his TVIX position. If you’re a degenerate gambler, maybe you try to play some options in the insane swinging volatility, only if you want to get all Mickey Rourke about it.
I think I’ll just sit back and let my book work, or not work. Either way, I think the only trading I will be doing is selling defensively. I always say that though, and end up trading anyways. The one thing I know, is that there is always a way to make money, so I guess that optimism is my downfall, (or drive?), who knows. Here are futures at the current time, I will be back at 1 am PST when Europe opens.
