Well that little 1-month correction we had was wiped out in 2 weeks or so...usually it's the other way around. Interesting times we live in. Also another complete crush of VIX, shows you long vol is equally dangerous to short vol...anyone who didn't immediately convert to short vol would be in a lot of pain right now.
ES Journal - 2013
- Thread starter Trvlwanderer
- Start date
5/22/13 - 6/24/13. 33 calendar days, peak to trough. 23 trading days(sans weekends and holidays)
And for an encore return of "normalcy"... "Corrections" should last about 3.3 hours!
Interesting times indeed!!
Things that matter, matter when they matter.
Trade On!
selling vol is much more fun, but you can own tail risk vol at the same time.
i feel for you guys shorting this move. in a normal market you would be fine ..even as it trended higher..but this is not normal. i would suggest identifying the market realities (and not what you think should be the reality) and what really can move it in your time frame...ie: news..T/A, geopolitical, etc.
anyway good luck guys.
adding to my shorts 71, still 75 stop.
Actually, exercising patience to short above the days high in AH or the next morning is even better; because such extended moves tend to create aftershocks.
I'd argue that there is never any "normal" in a market, it will always be influenced by external factors. Things can fundamentally change and not mean revert, it has occured countless times before. I agree with you that one should identify market realities and accept them, instead of making up ones own reality of how things should be. Because in the end, your job is to make money and that's it...