My quant buddy Tony happens to be one of the most intelligent and hard working people I’ve met in my life. And before you quip that I should get out more often let it be said that I used to live & work in Silicon Valley until the Dot.com bubble burst back in 2000. So I have met my share of smart people and exasperating nerds.
Not surprisingly Tony has been trading the house down during the first two quarters of the year, and since he’s a fervent bachelor he decided to reward himself by embarking on a hedonistic tour through Europe that apparently involved a strangely lit Scottish castle.
After a stint in Barcelona Tony has now decided to top it all off by inviting himself to the lair for a few days. Which in turn means that I’m once again forced to play Spanish tour guide here in Valencia. Which I actually love to do – but NOT IN THE PEAK OF SUMMER!
I have no idea why everyone always insists on coming here in July or August – by far the hottest and most humid months of the year. I usually spend both months hiding out in the lair with the shutters closed and the A/C cranked up the max (on dehumidifier mode). Only to emerge out of hibernation in mid-September when it usually takes me a few days to get reacquainted to sunlight.
Why – oh why – doesn’t anyone come to visit me here in April or May when it’s a lovely 68º F (20º C) or perhaps during September or October once the roaming herds of overweight pink skin barbarians have returned to their frozen hellscapes in the North? Both spring and autumn are extremely lovely here in Valencia, but alas – for some reason everyone insists on coming here during the peak of summer.
Anyway, enough with the bitching. And to be honest I’m really excited to finally meet Tony in person as he’s only been a virtual friend up to this point.
So my E-Mini long entry was triggered during yesterday’s early morning ramp. My stop has been advanced to break/even, which may be a bit early but to be honest it’s time for this thing to get out of the gate. It’s summer – and therefore way too hot for silly games. Let’s git ‘er done.
Okay so I want you guys to take a peek at the 30-year bond futures for a second. The long term panel is actually quite fascinating in terms of how the recent two legs higher differ form the price action over the preceding year (and probably further back).
What stands out is the lack of realized volatility on the way up and although we are now obviously completing some sort of correction I find the recent mojo exhibited in the treasury bonds quite fascinating.
Of course on the short term side of things we are seeing quite a bit more whipsaw, which IMO suggests an attempt to shake out weak hands. Once a more convincing floor pattern is in place I would be very interested in accumulating a few long positions here.
My Dollar campaign has been stopped out ignominiously at the 1.5 mark. Very disappointing as this one had all the makings of a runner. On the upside however we may be painting an inverted H&S pattern and I’m planning on jumping back in after the 100-day SMA has been thoroughly tested.
More goodies below the fold for my intrepid subs:
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Public Service Announcement
Since I’m playing tour guide for Tony I won’t be able to post tomorrow. Which gives you plenty of time to watch a few episodes of my Price Action Masterclass (pimped below).
I am delighted to announce the official release of my Price Action Masterclass which represents a cumulative six months effort to produce a comprehensive tutorial on reading and understanding price action without the use of superfluous indicators.
This extensive series covers everything I have learned in nearly 20 years of interpreting price action for my own discretionary setups. You know, the same ones I have been posting on this very blog almost every single day since late 2008.
Please go and watch the first episode of my Price Action Masterclass which is accessible for FREE as a little appetizer. I am pretty confident it will entice you to go and buy the whole series which I am making available to my core audience here at Evil Speculator at an insane introductory never-to-be-seen-again low price of only $97.
Once Tony and I launch Red Pill Quants it will only be available at the regular retail price of $297. Meaning you are getting it for less than 1/3rd of the official price!
So don’t waste any time and buy the entire series right now while it is available at a highly discounted price.
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