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At least there you have some pullbacks to get positioned, and they still seem like they want to go higher, especially Aussie.

Some of the currencies haven't really moved all that much with this rally. Currently watching Aussie, AUD/JPY, and Euro all leaning up

The assumption being that you would want to take on debt. If Maverick and others are correct, all debt will be suspect, interest rates high and going higher, and we will finally get the debt cleansing which many have been looking for for a long long time. It's kind of hard to see right now, but...

Good article on CNBC.com about UBS and their American clients. Apparently wealthy clients are hoarding cash even though they think the economy is ok. Judge for yourselves, to this trader in limbo it means more fuel for the fire later on.

There's nothing that says short this market. That doesn't mean you have to buy it. It was put to me like this by a former bookie-- If you have a boxer who has won 73 of his last 75 fights, are you going to bet against him on the 76th fight?

Anything that looks like easy money is attractive, like a beautiful woman. And we can even tell ourselves we are winning with her. But there is no such thing, only an idle truce perhaps

Isn't the decision to buy or sell a straddle mostly a volatility call or am I missing something?

Sorry sle your post came in in the middle.

Ok I think I get that. To what degree are we saying that? Is there any assumption about volatility?

I guess the more I try to understand options, the less I do. I don't get the point of the OP. How is that predicting anything?

Also, if one says mm, it seems like they are setting a price. I'm asking honestly. When we say the mm's are skeptical of this rally, what does that mean? Skew?

One is the market, the other some price given by a mm. I assume that in less liquid options, there might be a difference from the ideal. Are we talking about the same thing?

Not that long ago it was gold, oil, commodities, Euro up, you'd expect the SP to follow.

Yes we keep hearing that gold is up because there is uncertainty and the markets are down. But it defies what is happening. Also, earlier this year gold and the euro appeared to be correlated, but that seems to have changed. To this trader it certainly looks like a bull market in stocks, riding...

Isn't the mm price the same as the market price?

Ok I screwed that up.

Name your favorite dictators and tell me if they were disciplined in their approach.

I would say that discipline means different things to different people. It's almost a second hand thing, as it seems to embody other states of mind and practices. For this trader, discipline can mean waiting. It's really the one thing I can point to that separates how I look at the markets now...

Gold, gold, gold but as always be ready for some big adverse moves out of nowhere. Gold seems to love to do that. Options seem easier that way